State of Michigan Retirement System acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,552 shares of the medical device company’s stock, valued at approximately $9,548,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sands Capital Management LLC purchased a new position in DexCom in the first quarter valued at about $134,008,000. Janus Henderson Group PLC boosted its stake in shares of DexCom by 34.0% during the 1st quarter. Janus Henderson Group PLC now owns 784,992 shares of the medical device company’s stock valued at $211,379,000 after buying an additional 199,106 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of DexCom by 45.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 557,647 shares of the medical device company’s stock worth $150,158,000 after buying an additional 173,794 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of DexCom by 600.1% in the first quarter. Russell Investments Group Ltd. now owns 176,047 shares of the medical device company’s stock worth $47,611,000 after buying an additional 150,902 shares during the last quarter. Finally, Capital International Investors acquired a new stake in DexCom in the first quarter valued at $39,735,000. Institutional investors own 97.08% of the company’s stock.
In other news, SVP Shelly Ramasamy Selvaraj sold 400 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $404.05, for a total value of $161,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jacob Steven Leach sold 19,129 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $376.76, for a total transaction of $7,207,042.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,293 shares of company stock worth $24,266,963. Company insiders own 0.69% of the company’s stock.
Shares of NASDAQ DXCM opened at $435.54 on Friday. The company has a current ratio of 7.58, a quick ratio of 5.41 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $410.52 and a 200-day simple moving average of $325.07. The company has a market cap of $41.70 billion, a PE ratio of 198.88, a P/E/G ratio of 4.74 and a beta of 0.79. DexCom, Inc. has a 12-month low of $138.28 and a 12-month high of $446.50.
DexCom (NASDAQ:DXCM) last announced its earnings results on Tuesday, July 28th. The medical device company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.48. DexCom had a return on equity of 29.01% and a net margin of 11.93%. The firm had revenue of $451.80 million for the quarter, compared to the consensus estimate of $415.21 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. Sell-side analysts forecast that DexCom, Inc. will post 2.45 earnings per share for the current fiscal year.
Several research firms have recently weighed in on DXCM. Raymond James boosted their target price on shares of DexCom from $395.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird lifted their price target on DexCom from $296.00 to $373.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. SVB Leerink upped their price objective on DexCom from $465.00 to $485.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group lifted their target price on DexCom from $335.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Oppenheimer started coverage on DexCom in a research report on Tuesday, July 28th. They set a “buy” rating and a $445.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. DexCom presently has an average rating of “Buy” and an average price target of $394.95.
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 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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