Avalon Global Asset Management LLC Has $5.69 Million Holdings in DexCom, Inc. (NASDAQ:DXCM)

Avalon Global Asset Management LLC increased its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 25.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,200 shares of the medical device company’s stock after purchasing an additional 10,200 shares during the period. DexCom makes up approximately 1.3% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. Avalon Global Asset Management LLC’s holdings in DexCom were worth $5,692,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Gilbert & Cook Inc. lifted its holdings in DexCom by 8.2% during the fourth quarter. Gilbert & Cook Inc. now owns 3,431 shares of the medical device company’s stock worth $426,000 after acquiring an additional 261 shares in the last quarter. 9258 Wealth Management LLC bought a new position in DexCom during the fourth quarter worth about $286,000. Dimensional Fund Advisors LP lifted its holdings in DexCom by 6.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 647,172 shares of the medical device company’s stock worth $80,308,000 after acquiring an additional 39,786 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in DexCom during the fourth quarter worth about $330,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of DexCom in the fourth quarter valued at about $284,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Price Performance

DexCom stock opened at $70.43 on Friday. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00. The stock’s 50 day moving average is $78.19 and its 200-day moving average is $109.63. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The company 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 posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. Equities research analysts expect that DexCom, Inc. will post 1.69 EPS for the current year.

Insider Activity at DexCom

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 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 in the company, valued at $18,318,872.25. The sale was disclosed in a filing with the SEC, which is available at this link. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction 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 directly owns 66,249 shares in the company, valued at $4,607,617.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares of the company’s stock, valued at $18,318,872.25. 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. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DXCM shares. JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $75.00 in a report on Friday, July 26th. Barclays cut 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. Stifel Nicolaus boosted their price target on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley lowered their target price on DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price on shares of DexCom in a research report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

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.