Coatue Management LLC Buys Shares of 162,877 DexCom, Inc. (NASDAQ:DXCM)

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Coatue Management LLC bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 162,877 shares of the medical device company’s stock, valued at approximately $66,031,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DXCM. Nvwm LLC purchased a new position in DexCom during the 1st quarter valued at about $27,000. Flagship Harbor Advisors LLC grew its position in shares of DexCom by 214.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 110 shares of the medical device company’s stock worth $30,000 after buying an additional 75 shares during the last quarter. Harwood Advisory Group LLC purchased a new position in shares of DexCom in the 1st quarter worth approximately $35,000. Citizens Financial Group Inc RI grew its position in shares of DexCom by 43.8% in the 2nd quarter. Citizens Financial Group Inc RI now owns 92 shares of the medical device company’s stock worth $37,000 after buying an additional 28 shares during the last quarter. Finally, Duncker Streett & Co. Inc. purchased a new position in shares of DexCom in the 2nd quarter worth approximately $41,000. 97.51% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ DXCM traded down $14.71 on Friday, hitting $398.24. 1,529,700 shares of the company’s stock traded hands, compared to its average volume of 713,891. The company has a current ratio of 7.58, a quick ratio of 7.17 and a debt-to-equity ratio of 1.23. DexCom, Inc. has a 1-year low of $138.28 and a 1-year high of $456.23. The firm’s 50-day moving average price is $428.30 and its two-hundred day moving average price is $358.49. The firm has a market capitalization of $38.13 billion, a PE ratio of 181.84, a P/E/G ratio of 3.94 and a beta of 0.81.

DexCom (NASDAQ:DXCM) last posted its earnings results on Tuesday, July 28th. The medical device company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.48. DexCom had a net margin of 11.93% and a return on equity of 29.01%. The firm had revenue of $451.80 million during the quarter, compared to analysts’ expectations of $415.21 million. During the same period in the previous year, the business posted $0.08 EPS. The business’s revenue was up 34.3% compared to the same quarter last year. On average, research analysts anticipate that DexCom, Inc. will post 2.67 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the stock. Cowen lifted their price objective on shares of DexCom from $430.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Oppenheimer initiated coverage on shares of DexCom in a research report on Tuesday, July 28th. They issued a “buy” rating and a $445.00 price objective on the stock. Piper Sandler boosted their target price on shares of DexCom from $450.00 to $465.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Bank of America reissued a “buy” rating and set a $500.00 target price on shares of DexCom in a research report on Tuesday, July 28th. Finally, Citigroup boosted their target price on shares of DexCom from $440.00 to $485.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $405.20.

In related news, insider Andrew K. Balo sold 6,522 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $366.47, for a total value of $2,390,117.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Shelly Ramasamy Selvaraj sold 400 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $439.33, for a total transaction of $175,732.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,419 shares of company stock valued at $20,542,625. Company insiders own 0.69% of the company’s stock.

About DexCom

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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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