Plato Investment Management Ltd Buys Shares of 11,681 DexCom, Inc. $DXCM

Plato Investment Management Ltd bought a new position in DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,681 shares of the medical device company’s stock, valued at approximately $782,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Reflection Asset Management bought a new position in DexCom during the 4th quarter worth about $25,000. Ascentis Independent Advisors purchased a new position in DexCom during the 1st quarter valued at about $25,000. MCF Advisors LLC bought a new stake in shares of DexCom in the 4th quarter valued at about $32,000. Wellington Grp LLC raised its holdings in shares of DexCom by 778.7% in the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 475 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in shares of DexCom in the 4th quarter worth approximately $36,000. Institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

Shares of DXCM opened at $89.60 on Wednesday. The company has a 50 day moving average of $76.55 and a two-hundred day moving average of $70.56. 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 twelve month low of $54.11 and a twelve month high of $91.96. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares of the company’s stock, valued at approximately $27,538,704. This represents a 6.54% decrease in their position. 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. Over the last quarter, insiders sold 99,794 shares of company stock valued at $7,373,321. 0.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DXCM has been the topic of several research reports. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Benchmark upped their target price on DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Barclays reaffirmed an “underweight” rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Mizuho lifted their price target on DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Argus boosted their price target on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.