DexCom Inc. (DXCM) reported on Monday that Director, Dr. Jay Skyler, invested over $1 million back into DexCom. This marks the first insider buy for DexCom since March of last year.
Skyler added 70,000 shares at $15.50 to his stake on March 11 costing him a total of $1,085,000. Skylar now holds 274,036 shares of DexCom. Since this transaction the cost of each share is up 5.48%.
Dr. Jay Skyler, M.D. is a Professor of Medicine, Pediatrics, and Psychology at the University of Miami. Dr. Skyler specializes in diabetes research. He researches the clinical aspects of diabetes, especially improving the care of type 1 diabetes through glycemic control. Skyler is a former President of the American Diabetes Association and the International Diabetes Immunotherapy Group. He was the founding Editor-in-Chief of Diabetes Care and is currently the Senior Editor of Diabetes Technology & Therapeutics.
DexCom is a medical device company based out of San Diego, Calif. The company develops and markets continuous glucose monitoring systems for people with diabetes. The primary source of product revenue comes from DexCom’s SEVEN PLUS continuous glucose monitoring system.
DexCom reported that for 2012 product revenue grew to $93 million demonstrating a 41% increase from the $65.9 million product revenue in 2011. The company also reported a net loss of $54.5 million or $0.79 per share for 2012. On Feb. 21, DexCom was named the 5th most Innovative Companies in Healthcare by Fast Company.
Director Jay Skyler is not the only one making insider trades in DexCom this year. CEO Gregg Terrance has sold 27,000 of his shares this year and Executive Vice President Steven Pacelli sold 75,000 shares on Feb. 28. For more information on DexCom’s insider trades, look at DexCom’s Insider Trade History.
DexCom is currently owned by the following eight gurus followed by GuruFocus: Manning & Napier Advisors (1,971,560 shares), RS Investment Management (1,139,043 shares), Ron Baron (1,250,000 shares), Pioneer Investments (329,800 shares), Mario Gabelli (76,000 shares), Jim Simons (108,843 shares), Steven Cohen (1,200 shares), and Stanley Druckenmiller (265,000 shares). For more information on these gurus’ shares in DexCom look at DexCom’s Guru Trades.
With its shares up 8.86% this afternoon, DexCom trades at $16.95.
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