Catalyst Funds Management Pty Ltd Acquires New Position in DexCom, Inc. (NASDAQ:DXCM)

Catalyst Funds Management Pty Ltd bought a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,200 shares of the medical device company's stock, valued at approximately $793,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DXCM. Jennison Associates LLC grew its stake in DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company's stock worth $464,782,000 after acquiring an additional 6,544,102 shares during the period. Congress Asset Management Co. grew its stake in shares of DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock valued at $105,529,000 after buying an additional 1,332,522 shares during the period. Fisher Funds Management LTD purchased a new stake in shares of DexCom during the 4th quarter valued at $96,507,000. Westfield Capital Management Co. LP grew its stake in shares of DexCom by 44.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company's stock valued at $190,532,000 after buying an additional 876,739 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of DexCom by 182.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company's stock valued at $76,659,000 after buying an additional 739,000 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Up 3.8 %

Shares of DexCom stock traded up $2.68 during trading on Wednesday, reaching $73.38. The company had a trading volume of 4,302,408 shares, compared to its average volume of 3,887,224. The company has a market cap of $28.67 billion, a price-to-earnings ratio of 51.31, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The firm's fifty day moving average is $83.64 and its 200-day moving average is $76.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00.

Remove Ads

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. On average, analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $181,641.90. Following the sale, the executive vice president now owns 83,526 shares in the company, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 13,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the sale, the executive vice president now directly owns 105,602 shares of the company's stock, valued at approximately $7,432,268.76. This represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,657 shares of company stock worth $8,019,422. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DXCM. Canaccord Genuity Group boosted their price objective on shares of DexCom from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Baird R W raised shares of DexCom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of DexCom from $75.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Citigroup lifted their target price on shares of DexCom from $101.00 to $104.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Robert W. Baird upgraded shares of DexCom from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.82.

DexCom 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.