Perennial Investment Advisors LLC Buys 217 Shares of DexCom, Inc. (NASDAQ:DXCM)

Perennial Investment Advisors LLC increased its position in DexCom, Inc. (NASDAQ:DXCM) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,156 shares of the medical device company’s stock after purchasing an additional 217 shares during the quarter. Perennial Investment Advisors LLC’s holdings in DexCom were worth $358,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Sofinnova Investments Inc. purchased a new position in shares of DexCom during the second quarter valued at $6,972,000. GDS Wealth Management raised its holdings in shares of DexCom by 41.7% in the 2nd quarter. GDS Wealth Management now owns 54,770 shares of the medical device company’s stock valued at $6,210,000 after purchasing an additional 16,128 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DexCom by 41.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 919,650 shares of the medical device company’s stock worth $104,282,000 after purchasing an additional 268,802 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of DexCom by 16.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after purchasing an additional 353,019 shares in the last quarter. Finally, Rathbones Group PLC increased its holdings in DexCom by 5.8% during the second quarter. Rathbones Group PLC now owns 1,401,802 shares of the medical device company’s stock valued at $158,936,000 after buying an additional 76,727 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DXCM has been the subject of a number of analyst reports. BTIG Research lowered their target price on DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Redburn Atlantic began coverage on DexCom in a research note on Thursday, May 30th. They issued a “neutral” rating and a $130.00 target price on the stock. Robert W. Baird raised their price target on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Morgan Stanley reduced their price objective on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

DexCom Price Performance

NASDAQ:DXCM opened at $68.94 on Wednesday. The firm’s fifty day moving average is $80.70 and its two-hundred day moving average is $110.54. The firm has a market cap of $27.42 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 2.12 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00.

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

Insiders Place Their Bets

In other 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 transaction of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction dated Monday, September 9th. The stock was 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 approximately $18,318,872.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sadie Stern sold 426 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares in the company, valued at approximately $5,217,436.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,483 shares of company stock worth $201,708. Corporate insiders own 0.30% 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 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.