Midwest Capital Advisors LLC Invests $54,000 in DexCom, Inc. (NASDAQ:DXCM)

Midwest Capital Advisors LLC purchased a new position in DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 700 shares of the medical device company’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXCM. Jennison Associates LLC lifted its position in shares of DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares during the period. Congress Asset Management Co. increased its stake in shares of DexCom by 5,456.9% in the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after acquiring an additional 1,332,522 shares in the last quarter. Fisher Funds Management LTD bought a new stake in shares of DexCom in the 4th quarter valued at $96,507,000. Westfield Capital Management Co. LP increased its stake in shares of DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after acquiring an additional 876,739 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after acquiring an additional 739,000 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DXCM. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Citigroup lifted their price objective on shares of DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group lifted their price objective on shares of DexCom from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $86.00 to $104.00 in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average price target of $99.06.

Insiders Place Their Bets

In other news, COO Jacob Steven Leach sold 2,634 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the transaction, the chief operating officer now directly owns 268,644 shares in the company, valued at approximately $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 2,090 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the transaction, the executive vice president now owns 83,526 shares of the company’s stock, valued at $7,259,244.66. This trade represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,083 shares of company stock worth $3,309,794 over the last quarter. 0.30% of the stock is currently owned by company insiders.

DexCom Stock Performance

Shares of DXCM stock opened at $88.78 on Monday. The company has a market cap of $34.69 billion, a P/E ratio of 62.08, a P/E/G ratio of 2.30 and a beta of 1.14. The firm has a 50-day moving average of $83.50 and a 200-day moving average of $76.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.