Confluence Wealth Services Inc. Takes $415,000 Position in DexCom, Inc. (NASDAQ:DXCM)

Confluence Wealth Services Inc. bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,992 shares of the medical device company’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kessler Investment Group LLC increased its stake in DexCom by 2.6% during the 1st quarter. Kessler Investment Group LLC now owns 38,058 shares of the medical device company’s stock worth $5,279,000 after buying an additional 972 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO boosted its stake in shares of DexCom by 31.0% in the first quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 76,000 shares of the medical device company’s stock worth $9,760,000 after acquiring an additional 18,000 shares during the last quarter. PFG Investments LLC increased its position in shares of DexCom by 112.5% during the first quarter. PFG Investments LLC now owns 5,313 shares of the medical device company’s stock worth $737,000 after purchasing an additional 2,813 shares in the last quarter. Raymond James & Associates raised its stake in DexCom by 479.7% in the 1st quarter. Raymond James & Associates now owns 1,031,700 shares of the medical device company’s stock valued at $143,097,000 after purchasing an additional 853,743 shares during the last quarter. Finally, GraniteShares Advisors LLC lifted its holdings in DexCom by 7.2% in the 1st quarter. GraniteShares Advisors LLC now owns 6,878 shares of the medical device company’s stock valued at $954,000 after purchasing an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 1.3 %

DXCM stock traded up $1.58 during mid-day trading on Tuesday, hitting $127.39. 3,049,135 shares of the company were exchanged, compared to its average volume of 3,056,698. DexCom, Inc. has a 12-month low of $74.75 and a 12-month high of $142.00. The firm has a market capitalization of $50.66 billion, a P/E ratio of 82.19, a PEG ratio of 2.11 and a beta of 1.20. The business has a fifty day simple moving average of $131.49 and a 200-day simple moving average of $119.53. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $921.00 million for the quarter, compared to analyst estimates of $911.20 million. DexCom had a net margin of 16.82% and a return on equity of 31.01%. On average, equities research analysts predict that DexCom, Inc. will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Matthew Vincent Dolan sold 1,990 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $137.81, for a total value of $274,241.90. Following the sale, the executive vice president now owns 42,377 shares in the company, valued at approximately $5,839,974.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other DexCom news, EVP Michael Jon Brown sold 2,624 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $140.04, for a total value of $367,464.96. Following the completion of the transaction, the executive vice president now owns 68,682 shares in the company, valued at $9,618,227.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew Vincent Dolan sold 1,990 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $137.81, for a total value of $274,241.90. Following the completion of the sale, the executive vice president now owns 42,377 shares in the company, valued at $5,839,974.37. The disclosure for this sale can be found here. Insiders have sold 189,375 shares of company stock worth $25,530,859 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DXCM. Raymond James upped their target price on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Friday. UBS Group upped their price objective on shares of DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group raised their target price on shares of DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Citigroup lifted their price objective on DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.67.

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.