Magnolia Capital Advisors LLC Takes Position in DexCom, Inc. $DXCM

Magnolia Capital Advisors LLC purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,910 shares of the medical device company’s stock, valued at approximately $735,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in DexCom in the 4th quarter valued at about $483,356,000. AQR Capital Management LLC boosted its stake in DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after buying an additional 2,658,158 shares during the period. Legal & General Group Plc acquired a new stake in shares of DexCom during the second quarter valued at about $173,237,000. Deutsche Bank AG acquired a new stake in shares of DexCom during the second quarter valued at about $164,035,000. Finally, Employees Provident Fund Board purchased a new stake in shares of DexCom in the 4th quarter valued at approximately $145,352,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on DXCM shares. Sanford C. Bernstein set a $77.00 price objective on shares of DexCom in a report on Friday, May 1st. Stifel Nicolaus set a $95.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Bank of America cut their target price on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Raymond James Financial restated a “strong-buy” rating and set a $94.00 price target on shares of DexCom in a research note on Friday, July 31st. Finally, Barclays reaffirmed an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Insider Activity

In related news, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the sale, the executive vice president owned 95,450 shares of the company’s stock, valued at $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This represents a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 73,035 shares of company stock valued at $5,446,673 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

DexCom Trading Down 0.2%

NASDAQ:DXCM opened at $88.96 on Thursday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59. The firm has a market cap of $33.57 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $78.50 and a 200 day moving average price of $71.33.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.DexCom’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 EPS. Sell-side analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.