Magnetar Financial LLC Purchases New Position in DexCom, Inc. (NASDAQ:DXCM)

Magnetar Financial LLC acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 280,407 shares of the medical device company’s stock, valued at approximately $31,793,000. Magnetar Financial LLC owned approximately 0.07% of DexCom at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of DexCom by 0.3% during the first quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after buying an additional 136,282 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of 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 valued at $1,898,085,000 after purchasing an additional 2,695,296 shares during the last quarter. Sands Capital Management LLC lifted its position 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 valued at $1,868,647,000 after purchasing an additional 1,398,136 shares during the period. Capital World Investors boosted its holdings in DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after purchasing an additional 5,256,092 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after purchasing an additional 3,672,471 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DXCM shares. Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Robert W. Baird increased their price objective on shares of DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. BTIG Research dropped their price target on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada lowered their target price on DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Seven equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

Insider Buying and Selling

In related news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value 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 is accessible through this link. In other news, COO Jacob Steven Leach sold 746 shares of the 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 owns 264,915 shares in the company, valued at approximately $18,318,872.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value 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. Insiders sold a total of 2,483 shares of company stock valued at $201,708 over the last three months. 0.30% of the stock is owned by company insiders.

DexCom Price Performance

DexCom stock opened at $70.43 on Monday. The stock has a market cap of $28.01 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The firm has a 50-day moving average of $78.19 and a two-hundred day moving average of $109.37. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data 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 return on equity of 31.41% and a net margin of 16.95%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $0.34 EPS. DexCom’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts forecast that DexCom, Inc. will post 1.69 earnings per share for the current year.

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.