Korea Investment CORP Makes New Investment in DexCom, Inc. $DXCM

Korea Investment CORP bought a new position in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 632,639 shares of the medical device company’s stock, valued at approximately $42,608,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BOKF NA grew its holdings in shares of DexCom by 175.7% during the fourth quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock valued at $2,344,000 after buying an additional 22,505 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in DexCom by 21.1% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock worth $69,211,000 after acquiring an additional 181,701 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in DexCom in the 4th quarter valued at approximately $3,231,000. Goodman Advisory Group LLC bought a new position in DexCom in the 4th quarter valued at approximately $1,293,000. Finally, Norges Bank purchased a new stake in DexCom during the 4th quarter valued at $483,356,000. 97.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on DXCM shares. William Blair upgraded DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Robert W. Baird set a $105.00 price objective on DexCom in a report on Friday, July 31st. Royal Bank Of Canada boosted their target price on DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. TD Cowen restated a “buy” rating on shares of DexCom in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

DexCom Stock Up 2.3%

Shares of DXCM stock opened at $92.34 on Friday. 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 $92.56. The stock has a market cap of $34.85 billion, a P/E ratio of 36.50, a P/E/G ratio of 1.56 and a beta of 1.41. The company has a 50 day simple moving average of $77.49 and a two-hundred day simple moving average of $70.94.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share 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 business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $0.48 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, research analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the company’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 completion of the sale, the executive vice president owned 106,353 shares in the company, valued at $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The sale 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, Director Mark G. Foletta sold 2,000 shares of DexCom stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $85.32, for a total value of $170,640.00. Following the transaction, the director directly owned 48,852 shares in the company, valued at approximately $4,168,052.64. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 73,035 shares of company stock worth $5,446,673. Company insiders own 0.28% of the company’s stock.

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.