Westpac Banking Corp Invests $6 Million in DexCom, Inc. (DXCM)

Westpac Banking Corp purchased a new position in DexCom, Inc. (NASDAQ:DXCM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,950 shares of the medical device company’s stock, valued at approximately $6,001,000.

Several other hedge funds have also bought and sold shares of the company. Shell Asset Management Co. purchased a new stake in DexCom during the third quarter valued at $1,529,000. Alambic Investment Management L.P. purchased a new stake in DexCom during the third quarter valued at $396,000. Canada Pension Plan Investment Board increased its position in DexCom by 141.9% during the third quarter. Canada Pension Plan Investment Board now owns 238,728 shares of the medical device company’s stock valued at $34,148,000 after acquiring an additional 140,028 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in DexCom during the third quarter valued at $9,663,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in DexCom during the third quarter valued at $264,000.

In related news, VP Patrick Michael Murphy sold 2,372 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $143.69, for a total transaction of $340,832.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacob Steven Leach sold 47,600 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $143.95, for a total value of $6,852,020.00. Following the transaction, the insider now directly owns 109,284 shares of the company’s stock, valued at $15,731,431.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,745 shares of company stock valued at $21,210,998. Corporate insiders own 1.80% of the company’s stock.

A number of research firms recently commented on DXCM. JPMorgan Chase & Co. upped their price objective on DexCom to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 2nd. Cowen upped their price objective on DexCom from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, August 2nd. Oppenheimer set a $125.00 price objective on DexCom and gave the company a “buy” rating in a research report on Thursday, August 2nd. Morgan Stanley upped their price objective on DexCom from $70.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Finally, BidaskClub upgraded DexCom from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 21st. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. DexCom has a consensus rating of “Buy” and a consensus price target of $132.65.

NASDAQ DXCM opened at $129.41 on Friday. The stock has a market capitalization of $11.08 billion, a PE ratio of -223.12 and a beta of 0.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.71 and a quick ratio of 4.43. DexCom, Inc. has a twelve month low of $51.04 and a twelve month high of $152.14.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Tuesday, November 6th. The medical device company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.29. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $242.72 million. DexCom had a negative return on equity of 2.89% and a net margin of 4.72%. The business’s revenue for the quarter was up 44.5% on a year-over-year basis. Equities research analysts predict that DexCom, Inc. will post -0.12 earnings per share for the current fiscal year.

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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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring 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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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