NEOS Investment Management LLC increased its position in DexCom, Inc. (NASDAQ:DXCM – Free Report) by 19.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 321,866 shares of the medical device company’s stock after buying an additional 52,085 shares during the quarter. NEOS Investment Management LLC’s holdings in DexCom were worth $21,678,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in DXCM. MassMutual Private Wealth & Trust FSB increased its position in shares of DexCom by 15.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 153 shares during the period. V Square Quantitative Management LLC increased its position in DexCom by 1.8% during the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after purchasing an additional 172 shares during the period. Essex Financial Services Inc. raised its holdings in DexCom by 5.7% in the 1st quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock worth $204,000 after purchasing an additional 175 shares in the last quarter. Keel Point LLC raised its holdings in DexCom by 3.1% in the 4th quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock worth $430,000 after purchasing an additional 193 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in shares of DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after purchasing an additional 196 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on DXCM. Royal Bank Of Canada boosted their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Truist Financial set a $93.00 target price on DexCom and gave the stock a “buy” rating in a report on Friday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $95.00 price target (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Raymond James Financial reissued a “strong-buy” rating and issued a $94.00 target price on shares of DexCom in a research report on Friday, July 31st. Finally, Argus increased their price target on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average target price of $88.71.
Insiders Place Their Bets
In other news, EVP Sadie Stern sold 2,565 shares of DexCom stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the sale, the executive vice president directly owned 126,043 shares in the company, valued at approximately $11,138,419.91. This trade represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This represents a 1.57% 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. In the last ninety days, insiders sold 65,777 shares of company stock worth $4,950,714. Corporate insiders own 0.28% of the company’s stock.
DexCom Stock Performance
NASDAQ DXCM opened at $87.90 on Friday. The business has a 50 day simple moving average of $81.24 and a two-hundred day simple moving average of $72.35. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $92.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock has a market capitalization of $33.17 billion, a PE ratio of 34.74, a P/E/G ratio of 1.50 and a beta of 1.42.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, research analysts predict that DexCom, Inc. will post 2.64 EPS for the current fiscal year.
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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