Simplify Asset Management Inc. Purchases Shares of 105,405 DexCom, Inc. (NASDAQ:DXCM)

Simplify Asset Management Inc. acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 105,405 shares of the medical device company’s stock, valued at approximately $8,197,000. DexCom makes up approximately 0.4% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 13th largest position.

Several other institutional investors have also recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in DexCom in the 4th quarter valued at about $10,476,000. TD Private Client Wealth LLC grew its holdings in shares of DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after buying an additional 167 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of DexCom by 269.4% in the fourth quarter. Teacher Retirement System of Texas now owns 28,759 shares of the medical device company’s stock valued at $2,237,000 after buying an additional 20,974 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of DexCom by 4.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 170,949 shares of the medical device company’s stock valued at $13,295,000 after buying an additional 7,711 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in DexCom by 42.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 26,307 shares of the medical device company’s stock worth $2,013,000 after acquiring an additional 7,848 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $73.80 on Friday. The company has a market capitalization of $28.84 billion, a price-to-earnings ratio of 51.61, a PEG ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00. The business has a 50-day moving average of $83.33 and a 200-day moving average of $76.98.

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

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 13,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at $7,432,268.76. This represents a 10.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jereme M. Sylvain sold 2,090 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the sale, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at $7,259,244.66. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,009 shares of company stock valued at $8,044,178. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on DXCM. Wells Fargo & Company reiterated an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Citigroup lifted their price target on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $86.00 to $104.00 in a report on Thursday, January 16th. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $115.00 in a research report on Monday, February 3rd. Finally, Canaccord Genuity Group upped their price target on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.82.

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.