Grandeur Peak Global Advisors LLC Acquires New Stake in DexCom, Inc. $DXCM

Grandeur Peak Global Advisors LLC bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 46,068 shares of the medical device company’s stock, valued at approximately $3,103,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Reflection Asset Management acquired a new position in DexCom in the 4th quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in shares of DexCom during the first quarter worth about $25,000. MCF Advisors LLC acquired a new stake in shares of DexCom during the fourth quarter worth about $32,000. Wellington Grp LLC boosted its stake in shares of DexCom by 778.7% in the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 475 shares during the period. Finally, DV Equities LLC purchased a new position in shares of DexCom in the fourth quarter valued at approximately $36,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Up 0.4%

Shares of DexCom stock opened at $89.29 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59. The company has a market capitalization of $33.69 billion, a P/E ratio of 35.29, a P/E/G ratio of 1.50 and a beta of 1.41. The company has a 50 day moving average of $78.84 and a 200 day moving average of $71.47.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $0.48 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts forecast that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jon Coleman sold 4,912 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value 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. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DXCM shares. BTIG Research restated a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Sanford C. Bernstein set a $77.00 price target on shares of DexCom in a research report on Friday, May 1st. William Blair raised shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Truist Financial set a $93.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Bank of America cut their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.71.

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.