Flputnam Investment Management Co. Makes New $1.06 Million Investment in DexCom, Inc. $DXCM

Flputnam Investment Management Co. acquired a new position in DexCom, Inc. (NASDAQ:DXCM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,705 shares of the medical device company’s stock, valued at approximately $1,058,000.

Several other institutional investors have also recently modified their holdings of DXCM. Plato Investment Management Ltd bought a new position in shares of DexCom during the 2nd quarter valued at $782,000. BOKF NA raised its position in DexCom by 175.7% in the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after purchasing an additional 22,505 shares during the period. Stephens Investment Management Group LLC lifted its stake in DexCom by 21.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock worth $69,211,000 after purchasing an additional 181,701 shares during the last quarter. Norges Bank bought a new stake in DexCom in the fourth quarter worth $483,356,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in DexCom in the fourth quarter worth $3,231,000. 97.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DXCM. Raymond James Financial reaffirmed a “strong-buy” rating and set a $94.00 price objective on shares of DexCom in a research note on Friday, July 31st. UBS Group set a $96.00 target price on DexCom and gave the company a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. BTIG Research restated 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. Finally, Citigroup reaffirmed a “buy” rating and issued a $88.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

DexCom Trading Up 0.3%

Shares of DXCM opened at $91.06 on Tuesday. The stock has a market capitalization of $34.36 billion, a P/E ratio of 35.99, a PEG ratio of 1.53 and a beta of 1.41. 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 firm has a fifty day simple moving average of $79.64 and a two-hundred day simple moving average of $71.77. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59.

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, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, research analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current year.

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the transaction, the executive vice president owned 126,043 shares of the company’s stock, valued at $11,138,419.91. This represents a 1.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the 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 sale, the director owned 48,852 shares of the company’s stock, valued at approximately $4,168,052.64. This trade 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. Insiders sold 75,600 shares of company stock valued at $5,673,342 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.

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.