King Luther Capital Management Corp Increases Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

King Luther Capital Management Corp grew its stake in DexCom, Inc. (NASDAQ:DXCM) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,880 shares of the medical device company’s stock after purchasing an additional 11,013 shares during the period. King Luther Capital Management Corp’s holdings in DexCom were worth $17,787,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in DexCom in the first quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DexCom during the 2nd quarter worth approximately $25,000. DSM Capital Partners LLC acquired a new stake in shares of DexCom in the 4th quarter valued at approximately $28,000. Riverview Trust Co purchased a new stake in shares of DexCom in the first quarter valued at approximately $32,000. Finally, Sachetta LLC grew its holdings in DexCom by 255.2% during the second quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DXCM. Wells Fargo & Company reduced their target price on DexCom from $145.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $145.00 price objective on shares of DexCom in a research note on Tuesday, July 23rd. Redburn Atlantic assumed coverage on shares of DexCom in a research report on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price on the stock. Morgan Stanley reduced their price target on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Finally, Barclays lowered their price target on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $70.43 on Friday. The company has a 50-day simple moving average of $78.19 and a 200-day simple moving average of $109.63. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The company has a market cap of $28.01 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00.

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

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 659 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the sale, the executive vice president now directly owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Jon Brown sold 659 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the completion of the transaction, the executive vice president now directly owns 66,901 shares in the company, valued at $7,646,115.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,483 shares of company stock worth $201,708. 0.30% of the stock is currently owned by insiders.

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.