Bridger Management LLC Takes $6.86 Million Position in DexCom, Inc. $DXCM

Bridger Management LLC purchased a new position in DexCom, Inc. (NASDAQ:DXCM) in the second quarter, Holdings Channel.com reports. The firm purchased 101,893 shares of the medical device company’s stock, valued at approximately $6,862,000. DexCom comprises 4.6% of Bridger Management LLC’s investment portfolio, making the stock its 7th largest position.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in DexCom during the fourth quarter valued at approximately $483,356,000. AQR Capital Management LLC grew its position in DexCom by 597.8% in the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after purchasing an additional 2,658,158 shares during the period. Legal & General Group Plc bought a new stake in DexCom in the 2nd quarter worth approximately $173,237,000. Deutsche Bank AG purchased a new stake in DexCom during the 2nd quarter valued at $164,035,000. Finally, Employees Provident Fund Board purchased a new stake in DexCom during the 4th quarter valued at $145,352,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Price Performance

NASDAQ:DXCM opened at $90.82 on Friday. The business’s 50-day simple moving average is $79.21 and its two-hundred day simple moving average is $71.60. 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 stock has a market cap of $34.27 billion, a PE ratio of 35.90, a P/E/G ratio of 1.51 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 (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 business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted $0.48 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, analysts forecast that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares in the company, valued at $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom 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 directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% 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 a total of 75,600 shares of company stock worth $5,673,342 in the last 90 days. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DXCM. Barclays restated an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Bank of America reduced their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Robert W. Baird set a $105.00 price target on DexCom in a research note on Friday, July 31st. UBS Group set a $96.00 price target on shares of DexCom and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and a consensus target price of $88.71.

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.