OP Asset Management Ltd Makes New Investment in DexCom, Inc. $DXCM

OP Asset Management Ltd bought a new position in DexCom, Inc. (NASDAQ:DXCM) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 40,463 shares of the medical device company’s stock, valued at approximately $2,541,000.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after buying an additional 11,946 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares during the period. Empowered Funds LLC grew its holdings in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after acquiring an additional 436 shares during the period. Focus Partners Wealth raised its position in shares of DexCom by 13.2% in the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after acquiring an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of DexCom by 1.4% in the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 2.2%

Shares of NASDAQ DXCM opened at $70.14 on Friday. The firm’s 50 day moving average price is $67.65 and its 200-day moving average price is $68.08. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The company has a market cap of $27.06 billion, a PE ratio of 29.97, a P/E/G ratio of 1.16 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities research analysts expect that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on DXCM. Robert W. Baird set a $80.00 price target on DexCom in a research report on Friday, May 1st. TD Cowen reiterated a “buy” rating and issued a $95.00 price objective (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price on the stock. Finally, Barclays reiterated 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. Two research 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’s stock. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average target price of $84.88.

Insiders Place Their Bets

In other news, EVP Jon Coleman sold 4,911 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total value 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. The trade was a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 46,694 shares of company stock worth $3,343,977. 0.28% of the stock is 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.