Formula Growth Ltd. Acquires Shares of 13,744 DexCom, Inc. $DXCM

Formula Growth Ltd. acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, HoldingsChannel reports. The firm acquired 13,744 shares of the medical device company’s stock, valued at approximately $926,000.

A number of other hedge funds have also recently bought and sold shares of DXCM. BOKF NA boosted its stake in shares of DexCom by 175.7% in the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after buying an additional 22,505 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of DexCom in the second quarter valued at approximately $782,000. Stephens Investment Management Group LLC increased its position in shares of DexCom by 21.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock valued at $69,211,000 after acquiring an additional 181,701 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of DexCom during the fourth quarter valued at approximately $3,231,000. Finally, Goodman Advisory Group LLC bought a new stake in DexCom during the fourth quarter worth $1,293,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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. TD Cowen reaffirmed a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Barclays reiterated an “underweight” rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Benchmark boosted their price target on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating 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 issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

DexCom Price Performance

DexCom stock opened at $89.29 on Friday. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59. 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 business’s 50 day simple moving average is $78.84 and its 200 day simple moving average is $71.47. The company has a market cap of $33.69 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 1.50 and a beta of 1.41.

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

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction dated 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 directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. This trade represents a 7.52% 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 sold 73,035 shares of company stock worth $5,446,673 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.

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.