Parkman Healthcare Partners LLC Makes New $36.02 Million Investment in DexCom, Inc. $DXCM

Parkman Healthcare Partners LLC purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 534,767 shares of the medical device company’s stock, valued at approximately $36,017,000. DexCom comprises about 3.7% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of DXCM. Geode Capital Management LLC increased its position in DexCom by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after buying an additional 42,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of DexCom by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after buying an additional 516,526 shares during the last quarter. Norges Bank bought a new position in shares of DexCom during the 4th quarter worth approximately $483,356,000. Invesco Ltd. increased its holdings in shares of DexCom by 14.8% during the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after acquiring an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of DexCom by 7.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock worth $207,613,000 after acquiring an additional 220,313 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,756 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the transaction, the insider owned 328,970 shares in the company, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the sale, the director directly owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This represents a 3.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is owned by corporate insiders.

DexCom Price Performance

Shares of DexCom stock opened at $91.06 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $34.36 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a 50-day simple moving average of $77.83 and a two-hundred day simple moving average of $71.07.

DexCom (NASDAQ:DXCM) last announced its 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. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. Analysts forecast that DexCom, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on DXCM shares. Benchmark lifted their price objective on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Argus upped their price target on shares of DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wells Fargo & Company raised their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Bank of America decreased their target price on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, Mizuho lifted their price target on DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently 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.