Sone Capital Management LLC acquired a new stake in DexCom, Inc. (NASDAQ:DXCM – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 33,380 shares of the medical device company’s stock, valued at approximately $2,248,000.
Several other hedge funds and other institutional investors have also modified their holdings of DXCM. BOKF NA raised its holdings in shares of DexCom by 175.7% in the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after buying an additional 22,505 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of DexCom by 21.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock valued at $69,211,000 after buying an additional 181,701 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of DexCom in the fourth quarter worth about $3,231,000. Plato Investment Management Ltd acquired a new position in DexCom during the 2nd quarter worth $782,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of DexCom during the fourth quarter valued at $1,293,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
Insider Buying and Selling
In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director owned 52,852 shares of the company’s stock, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value of $358,576.00. Following the sale, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. The trade was a 4.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 73,035 shares of company stock valued at $5,446,673 in the last ninety days. Insiders own 0.28% of the company’s stock.
DexCom Trading Down 1.4%
DexCom (NASDAQ:DXCM – Get Free Report) last posted its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Citigroup reissued a “buy” rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. BTIG Research reissued a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. William Blair raised shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.71.
View Our Latest Analysis on DexCom
About DexCom
DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.
Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.
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