William Blair Investment Management LLC Takes Position in DexCom, Inc. $DXCM

William Blair Investment Management LLC acquired a new position in DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 173,453 shares of the medical device company’s stock, valued at approximately $11,682,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Korea Investment CORP bought a new stake in shares of DexCom in the 2nd quarter valued at about $42,608,000. EP Wealth Advisors LLC bought a new position in DexCom during the 2nd quarter worth approximately $298,000. Ieq Capital LLC bought a new position in DexCom during the 2nd quarter worth approximately $6,197,000. Callan Family Office LLC purchased a new position in DexCom in the 2nd quarter worth approximately $435,000. Finally, Allworth Financial LP purchased a new position in DexCom in the 2nd quarter worth approximately $516,000. Institutional investors own 97.75% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jon Coleman sold 4,912 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the transaction, the executive vice president owned 100,361 shares in the company, valued at $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value 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. The trade was 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. Insiders sold a total of 73,035 shares of company stock valued at $5,446,673 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

DexCom Stock Up 2.3%

Shares of NASDAQ:DXCM opened at $92.34 on Friday. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.56. The company has a market cap of $34.85 billion, a PE ratio of 36.50, a P/E/G ratio of 1.56 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. The stock’s 50-day moving average is $77.49 and its 200 day moving average is $70.94.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $0.48 EPS. DexCom’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on DXCM shares. Bank of America lowered their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. JPMorgan Chase & Co. raised their target price on shares of DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Monday, August 3rd. Robert W. Baird set a $105.00 price target on shares of DexCom in a report on Friday, July 31st. Finally, BTIG Research reissued a “buy” rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus 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.