Point72 Asia Singapore Pte. Ltd. Makes New $1.84 Million Investment in DexCom, Inc. (NASDAQ:DXCM)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 23,689 shares of the medical device company’s stock, valued at approximately $1,842,000.

Several other hedge funds and other institutional investors have also modified their holdings of DXCM. Geode Capital Management LLC raised its holdings in DexCom by 0.6% in 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 buying an additional 56,094 shares during the period. Jennison Associates LLC increased its position in shares of DexCom by 10.3% in the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock worth $594,455,000 after acquiring an additional 710,858 shares in the last quarter. Norges Bank purchased a new position in shares of DexCom in the 4th quarter valued at $385,367,000. Northern Trust Corp raised its stake in shares of DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock valued at $322,454,000 after acquiring an additional 753,857 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of DexCom by 3.3% during 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 in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DexCom

In other DexCom news, EVP Jereme M. Sylvain sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the sale, the executive vice president now owns 135,482 shares in the company, valued at $10,002,636.06. This represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin R. Sayer sold 32,498 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $2,287,209.24. Following the transaction, the chief executive officer now directly owns 372,029 shares in the company, valued at approximately $26,183,401.02. This represents a 8.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,926 shares of company stock valued at $4,734,384. Insiders own 0.32% of the company’s stock.

DexCom Stock Performance

Shares of DXCM opened at $86.52 on Thursday. The firm has a market cap of $33.93 billion, a price-to-earnings ratio of 60.50, a PEG ratio of 2.30 and a beta of 1.43. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $71.40 and its two-hundred day moving average is $77.41. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $132.26.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 14.29% and a return on equity of 30.14%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. Analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DXCM. Mizuho began coverage on DexCom in a report on Thursday, April 10th. They issued an “outperform” rating and a $85.00 price target for the company. Cfra Research upgraded DexCom to a “hold” rating in a research note on Friday, March 21st. Canaccord Genuity Group raised their target price on DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Barclays boosted their price target on DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, Robert W. Baird lowered their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.

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.