Canada Pension Plan Investment Board Buys New Position in DexCom, Inc. $DXCM

Canada Pension Plan Investment Board bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, Holdings Channel reports. The fund bought 1,054,792 shares of the medical device company’s stock, valued at approximately $71,040,000.

A number of other hedge funds have also added to or reduced their stakes in DXCM. Geode Capital Management LLC lifted its position in shares of DexCom by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock valued at $727,842,000 after acquiring an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in DexCom by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock worth $530,897,000 after purchasing an additional 516,526 shares during the period. Norges Bank acquired a new stake in DexCom in the fourth quarter worth $483,356,000. Invesco Ltd. increased its stake in DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock valued at $352,781,000 after purchasing an additional 686,228 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock valued at $207,613,000 after purchasing an additional 220,313 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Up 0.4%

DexCom stock opened at $89.29 on Friday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $92.59. The firm has a market capitalization of $33.69 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. The firm’s fifty day moving average price is $78.84 and its two-hundred day moving average price is $71.47. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on DXCM. Royal Bank Of Canada increased their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Barclays reaffirmed an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Sanford C. Bernstein set a $77.00 price target on DexCom in a research note on Friday, May 1st. Argus increased their price target on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Citigroup reissued a “buy” rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. Two 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 issued a Sell rating to the company. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

Insider Buying and Selling

In related news, EVP Jon Coleman sold 4,912 shares of DexCom stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president owned 100,361 shares of the company’s stock, valued at $7,326,353. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This trade represents a 1.57% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $5,446,673 over the last 90 days. Company insiders own 0.28% of the company’s stock.

DexCom Profile

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.