Focus Partners Wealth Takes $496,000 Position in DexCom, Inc. (NASDAQ:DXCM)

Focus Partners Wealth acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,377 shares of the medical device company’s stock, valued at approximately $496,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock valued at $775,256,000 after buying an additional 56,094 shares during the period. Jennison Associates LLC lifted its stake in shares of DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after buying an additional 710,858 shares during the period. Norges Bank purchased a new position in shares of DexCom during the fourth quarter valued at approximately $385,367,000. Northern Trust Corp lifted its stake in shares of DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock valued at $322,454,000 after buying an additional 753,857 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of DexCom by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,825,206 shares of the medical device company’s stock valued at $219,716,000 after buying an additional 91,051 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

Shares of DXCM stock opened at $87.34 on Wednesday. The company has a market capitalization of $34.25 billion, a PE ratio of 61.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The firm has a fifty day simple moving average of $72.71 and a 200-day simple moving average of $77.87. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $131.76.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 14.29% and a return on equity of 30.14%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company posted $0.32 earnings per share. DexCom’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. This trade represents a 10.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the completion of the transaction, the executive vice president now owns 135,482 shares in the company, valued at approximately $10,002,636.06. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,926 shares of company stock worth $4,734,384 in the last ninety days. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DXCM shares. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Barclays upped their price target on shares of DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Mizuho began coverage on shares of DexCom in a research report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price target for the company. Finally, Cfra Research raised shares of DexCom to a “hold” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, DexCom has an average rating of “Moderate Buy” and a consensus target price of $98.11.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.