Teacher Retirement System of Texas Raises Stock Position in DexCom, Inc. $DXCM

Teacher Retirement System of Texas boosted its stake in DexCom, Inc. (NASDAQ:DXCM) by 31.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,330 shares of the medical device company’s stock after purchasing an additional 92,643 shares during the period. Teacher Retirement System of Texas’ holdings in DexCom were worth $25,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of DexCom by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 48,322,405 shares of the medical device company’s stock worth $4,218,063,000 after buying an additional 866,506 shares during the last quarter. Jennison Associates LLC increased its position in DexCom by 9.4% during the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after acquiring an additional 994,300 shares during the last quarter. Geode Capital Management LLC lifted its holdings in DexCom by 3.4% in the second quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after acquiring an additional 358,617 shares during the period. Massachusetts Financial Services Co. MA boosted its position in DexCom by 106.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after purchasing an additional 3,410,858 shares during the last quarter. Finally, Norges Bank purchased a new position in DexCom in the second quarter worth about $453,279,000. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on DXCM. Mizuho upped their price target on shares of DexCom from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of DexCom from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Wells Fargo & Company set a $93.00 price target on shares of DexCom and gave the stock an “overweight” rating in a research report on Friday, October 31st. UBS Group cut their price objective on shares of DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada decreased their target price on DexCom from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.30.

Insider Activity

In other DexCom news, COO Jacob Steven Leach purchased 18,200 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $55.04 per share, with a total value of $1,001,728.00. Following the acquisition, the chief operating officer owned 331,697 shares in the company, valued at approximately $18,256,602.88. This trade represents a 5.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $58.07, for a total value of $58,766.84. Following the completion of the transaction, the director owned 27,031 shares of the company’s stock, valued at $1,569,690.17. The trade was a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,866 shares of company stock worth $448,177 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

DexCom Stock Performance

DXCM opened at $72.86 on Friday. The company has a 50 day simple moving average of $66.41 and a two-hundred day simple moving average of $71.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.56 and a quick ratio of 1.38. The firm has a market cap of $28.42 billion, a P/E ratio of 40.48, a PEG ratio of 1.33 and a beta of 1.48. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $93.25.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. DexCom had a net margin of 15.96% and a return on equity of 30.65%. DexCom’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 EPS. Equities analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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.