Performance Wealth Partners LLC Makes New Investment in DexCom, Inc. $DXCM

Performance Wealth Partners LLC purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 25,838 shares of the medical device company’s stock, valued at approximately $1,740,000.

A number of other large investors also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC increased its stake in DexCom by 1.8% in the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after purchasing an additional 172 shares during the last quarter. Essex Financial Services Inc. lifted its position in DexCom by 5.7% during the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock worth $204,000 after buying an additional 175 shares during the period. Keel Point LLC lifted its position in DexCom by 3.1% during the fourth quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock worth $430,000 after buying an additional 193 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analysts Set New Price Targets

DXCM has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Weiss Ratings raised shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Bank of America dropped their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.71.

Insider Activity at DexCom

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 transaction of $2,042,017.92. Following the transaction, the insider directly owned 328,970 shares in the company, valued at $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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This represents a 1.57% 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 99,794 shares of company stock valued at $7,373,321. Insiders own 0.28% of the company’s stock.

DexCom Stock Performance

DexCom stock opened at $88.76 on Tuesday. The stock’s 50-day moving average is $76.32 and its 200-day moving average is $70.44. The company has a market cap of $33.49 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $91.96.

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

DexCom 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.