MFG Wealth Management Inc. Acquires 6,987 Shares of DexCom, Inc. (NASDAQ:DXCM)

MFG Wealth Management Inc. boosted its position in DexCom, Inc. (NASDAQ:DXCM) by 34.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,226 shares of the medical device company’s stock after purchasing an additional 6,987 shares during the period. DexCom makes up approximately 1.8% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 27th biggest holding. MFG Wealth Management Inc.’s holdings in DexCom were worth $1,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DXCM. Private Trust Co. NA raised its position in DexCom by 266.3% during the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after acquiring an additional 264 shares during the period. Optiver Holding B.V. purchased a new stake in shares of DexCom in the fourth quarter worth about $33,000. TD Private Client Wealth LLC boosted its stake in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after buying an additional 167 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after acquiring an additional 137 shares during the period. 97.75% of the stock is currently owned by institutional investors.

DexCom Trading Down 3.3%

Shares of DXCM opened at $84.68 on Thursday. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $117.19. The stock has a market cap of $33.20 billion, a price-to-earnings ratio of 63.19, a price-to-earnings-growth ratio of 1.87 and a beta of 1.46. The firm has a 50 day simple moving average of $81.02 and a 200-day simple moving average of $79.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.32.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, Director Nicholas Augustinos sold 2,618 shares of the business’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $81.69, for a total transaction of $213,864.42. Following the sale, the director now directly owns 37,083 shares of the company’s stock, valued at $3,029,310.27. The trade was a 6.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sadie Stern sold 6,184 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the transaction, the executive vice president now owns 109,621 shares of the company’s stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,724 shares of company stock valued at $2,157,034 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Barclays raised their target price on DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. The Goldman Sachs Group assumed coverage on DexCom in a report on Friday, May 30th. They issued a “buy” rating and a $104.00 price objective on the stock. Finally, Truist Financial began coverage on shares of DexCom in a report on Monday, June 16th. They issued a “buy” rating and a $102.00 price objective on the stock. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

DexCom 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 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.