Canada Pension Plan Investment Board Acquires New Holdings in DexCom, Inc. $DXCM

Canada Pension Plan Investment Board bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,054,792 shares of the medical device company’s stock, valued at approximately $71,040,000. Canada Pension Plan Investment Board owned approximately 0.28% of DexCom at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXCM. Reflection Asset Management bought a new position in shares of DexCom in the 4th quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in DexCom in the 1st quarter worth about $25,000. MCF Advisors LLC acquired a new position in DexCom in the 4th quarter worth about $32,000. Wellington Grp LLC raised its position in 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 last quarter. Finally, DV Equities LLC bought a new position in DexCom in the fourth quarter valued at about $36,000. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 0.4%

NASDAQ DXCM opened at $89.29 on Friday. The firm has a market capitalization of $33.69 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 1.50 and a beta of 1.41. The business’s 50-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, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion during 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%.The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. On average, analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DXCM shares. Argus boosted 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. Canaccord Genuity Group set a $90.00 price objective on shares of DexCom and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Robert W. Baird set a $105.00 target price on shares of DexCom in a report on Friday, July 31st. Finally, Stifel Nicolaus set a $95.00 price target on shares of DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Insider Activity

In other news, insider Kevin R. Sayer sold 26,756 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the sale, the insider directly owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. This represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $358,576.00. Following the sale, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. This trade represents a 4.67% decrease in their ownership of the stock. 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 in the last 90 days. 0.28% of the stock is owned by company insiders.

DexCom Company 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.