Canada Pension Plan Investment Board Grows Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Canada Pension Plan Investment Board grew its stake in DexCom, Inc. (NASDAQ:DXCM) by 189.1% in the second quarter, Holdings Channel.com reports. The firm owned 665,646 shares of the medical device company’s stock after acquiring an additional 435,401 shares during the quarter. Canada Pension Plan Investment Board’s holdings in DexCom were worth $75,471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DXCM. Capital World Investors increased its stake in shares of DexCom by 130.7% in the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after acquiring an additional 5,256,092 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of DexCom by 164.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after purchasing an additional 3,672,471 shares during the period. Capital Research Global Investors increased its position in DexCom by 21.4% during the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after purchasing an additional 2,695,296 shares during the last quarter. Sands Capital Management LLC raised its stake in DexCom by 10.2% during the fourth quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock worth $1,868,647,000 after purchasing an additional 1,398,136 shares during the period. Finally, Congress Asset Management Co. MA boosted its holdings in DexCom by 2,076.3% in the 4th quarter. Congress Asset Management Co. MA now owns 1,126,382 shares of the medical device company’s stock valued at $139,773,000 after purchasing an additional 1,074,626 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Down 2.1 %

DXCM stock opened at $70.43 on Friday. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The company’s 50 day moving average price is $78.19 and its 200 day moving average price is $109.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. The firm has a market capitalization of $28.01 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 2.12 and a beta of 1.18.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS. On average, equities research analysts anticipate that DexCom, Inc. will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DXCM has been the topic of several analyst reports. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. UBS Group lowered their price target on DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 26th. BTIG Research reduced their price objective on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 target price on shares of DexCom in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. downgraded shares of DexCom from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $75.00 in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the sale, the executive vice president now owns 66,249 shares in the company, valued at $4,607,617.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the transaction, the executive vice president now owns 66,249 shares in the company, valued at $4,607,617.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,483 shares of company stock valued at $201,708. 0.30% of the stock is currently owned by corporate insiders.

About DexCom

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.