VIRGINIA RETIREMENT SYSTEMS ET Al Invests $36.28 Million in DexCom, Inc. $DXCM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 538,750 shares of the medical device company’s stock, valued at approximately $36,285,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.14% of DexCom as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new position in shares of DexCom in the 4th quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in DexCom in the 1st quarter valued at about $25,000. MCF Advisors LLC purchased a new stake in shares of DexCom during the fourth quarter worth approximately $32,000. Wellington Grp LLC raised its position in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after buying an additional 475 shares during the last quarter. Finally, DV Equities LLC purchased a new position in DexCom during the fourth quarter worth about $36,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DexCom news, Director Mark Foletta sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $85.32, for a total value of $170,640.00. Following the completion of the transaction, the director owned 48,852 shares in the company, valued at $4,168,052.64. This represents a 3.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This trade represents a 1.57% 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. In the last 90 days, insiders have sold 65,777 shares of company stock valued at $4,950,714. Corporate insiders own 0.28% of the company’s stock.

DexCom Price Performance

Shares of DexCom stock opened at $87.90 on Tuesday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $81.60 and a 200 day moving average price of $72.49.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $0.48 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on DXCM shares. Citigroup reiterated a “buy” rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Stifel Nicolaus set a $95.00 price objective on DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. Truist Financial set a $93.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Barclays reiterated 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. Finally, Wall Street Zen upgraded DexCom from a “hold” rating to a “buy” rating in a report on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.