Formula Growth Ltd. Boosts Stake in DexCom, Inc. (NASDAQ:DXCM)

Formula Growth Ltd. boosted its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 88.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,148 shares of the medical device company's stock after purchasing an additional 22,600 shares during the quarter. DexCom comprises approximately 1.3% of Formula Growth Ltd.'s holdings, making the stock its 28th largest holding. Formula Growth Ltd.'s holdings in DexCom were worth $3,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DXCM. Geode Capital Management LLC raised its stake in DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company's stock valued at $775,256,000 after purchasing an additional 56,094 shares in the last quarter. Jennison Associates LLC raised its position in shares of DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company's stock valued at $594,455,000 after buying an additional 710,858 shares in the last quarter. Norges Bank purchased a new stake in shares of DexCom during the 4th quarter valued at about $385,367,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of DexCom by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,825,206 shares of the medical device company's stock valued at $219,716,000 after acquiring an additional 91,051 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in DexCom by 12.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,853,565 shares of the medical device company's stock worth $144,152,000 after acquiring an additional 201,181 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

Insider Activity at DexCom

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the firm'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 directly owns 83,526 shares in the company, valued at approximately $7,259,244.66. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 13,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $914,940.00. Following the transaction, the executive vice president now owns 105,602 shares of the company's stock, valued at approximately $7,432,268.76. This trade represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,009 shares of company stock valued at $8,044,178 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DXCM. Morgan Stanley upped their price objective on DexCom from $75.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Citigroup raised their price target on DexCom from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Redburn Atlantic raised shares of DexCom from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Canaccord Genuity Group increased their target price 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. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a research note on Saturday, March 8th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.00.

DexCom Stock Up 5.4 %

Shares of NASDAQ:DXCM traded up $3.60 during trading hours on Thursday, hitting $70.46. The company's stock had a trading volume of 1,923,739 shares, compared to its average volume of 4,230,695. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The firm's fifty day moving average price is $73.83 and its 200 day moving average price is $76.60. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $139.24. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 49.26, a P/E/G ratio of 2.30 and a beta of 1.50.

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

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.