Perennial Investment Advisors LLC Raises Position in DexCom, Inc. (NASDAQ:DXCM)

Perennial Investment Advisors LLC raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 7.4% in the second quarter, Holdings Channel.com reports. The fund owned 3,156 shares of the medical device company’s stock after acquiring an additional 217 shares during the quarter. Perennial Investment Advisors LLC’s holdings in DexCom were worth $358,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of DexCom in the first quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in DexCom during the second quarter worth $25,000. DSM Capital Partners LLC purchased a new stake in DexCom in the 4th quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of DexCom in the 1st quarter worth $32,000. Finally, Sachetta LLC raised its holdings in shares of DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

Shares of DexCom stock opened at $68.94 on Wednesday. The stock has a market capitalization of $27.42 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The business has a 50-day moving average of $80.70 and a 200 day moving average of $110.54. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, sell-side analysts forecast that DexCom, Inc. will post 1.69 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Robert W. Baird boosted their target price on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. BTIG Research dropped their price target on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Barclays reduced their price target on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, Redburn Atlantic initiated coverage on DexCom in a research report on Thursday, May 30th. They issued a “neutral” rating and a $130.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and an average price target of $112.25.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 659 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the sale, the executive vice president now owns 66,901 shares of the company’s stock, valued at $7,646,115.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the transaction, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 659 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the transaction, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The disclosure for this sale can be found here. Insiders sold 2,483 shares of company stock valued at $201,708 in the last 90 days. Company insiders own 0.30% of the company’s stock.

DexCom Company 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.