Bridges Investment Management Inc. Buys New Position in DexCom, Inc. (NASDAQ:DXCM)

Bridges Investment Management Inc. bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,019 shares of the medical device company’s stock, valued at approximately $342,000.

Other hedge funds also recently modified their holdings of the company. Team Hewins LLC lifted its position in shares of DexCom by 3.4% during the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock valued at $354,000 after purchasing an additional 83 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of DexCom by 1.3% during the 1st quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock worth $951,000 after buying an additional 87 shares in the last quarter. Capital Insight Partners LLC boosted its stake in shares of DexCom by 2.5% in the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock worth $418,000 after buying an additional 90 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of DexCom by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock valued at $4,448,000 after acquiring an additional 93 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of DexCom by 10.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,071 shares of the medical device company’s stock valued at $133,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays cut their price objective on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered 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 report on Friday, July 26th. UBS Group lowered their price objective on shares of DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Finally, Stifel Nicolaus lifted their price target on shares of DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Seven investment 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. Based on data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.25.

DexCom Stock Down 2.1 %

Shares of NASDAQ DXCM opened at $70.43 on Friday. The business has a 50-day simple moving average of $78.19 and a two-hundred day simple moving average of $109.54. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The company has a market cap of $28.01 billion, a P/E ratio of 45.44, a P/E/G ratio of 2.12 and a beta of 1.18. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00.

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

Insider Transactions at DexCom

In other news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 264,915 shares of the company’s stock, valued at $18,318,872.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other DexCom news, EVP Michael Jon Brown sold 659 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jacob Steven Leach sold 746 shares of the company’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 directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,483 shares of company stock valued at $201,708. 0.30% of the stock is 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.