Bridger Management LLC Buys Shares of 101,893 DexCom, Inc. $DXCM

Bridger Management LLC purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 101,893 shares of the medical device company’s stock, valued at approximately $6,862,000. DexCom accounts for approximately 4.6% of Bridger Management LLC’s portfolio, making the stock its 7th biggest holding.

Several other large investors also recently added to or reduced their stakes in DXCM. MassMutual Private Wealth & Trust FSB lifted its holdings in DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock valued at $77,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of DexCom by 1.8% in the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock worth $604,000 after purchasing an additional 172 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of DexCom by 5.7% in the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after purchasing an additional 175 shares during the period. Keel Point LLC lifted its stake in shares of DexCom by 3.1% during the 4th quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock valued at $430,000 after buying an additional 193 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lifted their price target on DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Argus lifted their price target on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Mizuho boosted their price objective on DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on DexCom in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.71.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the sale, the director owned 52,852 shares in the company, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 75,600 shares of company stock valued at $5,673,342. Company insiders own 0.28% of the company’s stock.

DexCom Trading Up 1.7%

Shares of DexCom stock opened at $90.82 on Friday. The company has a 50 day simple moving average of $79.21 and a two-hundred day simple moving average of $71.60. The firm has a market cap of $34.27 billion, a PE ratio of 35.90, a PEG ratio of 1.51 and a beta of 1.41. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.