Man Group plc acquired a new stake in DexCom, Inc. (NASDAQ:DXCM – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 394,449 shares of the medical device company’s stock, valued at approximately $26,566,000.
Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC grew 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 valued at $227,000 after purchasing an additional 196 shares during the period. Empowered Funds LLC grew its position in shares of DexCom by 5.4% in the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after purchasing an additional 436 shares during the period. Focus Partners Wealth increased its stake in DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after purchasing an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. Robert W. Baird set a $105.00 target price on shares of DexCom in a report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Weiss Ratings upgraded DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler reiterated an “overweight” rating and set a $95.00 target price (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Finally, Bank of America dropped their price target on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average price target of $88.71.
Insider Buying and Selling at DexCom
In other DexCom news, EVP Jon Coleman sold 4,911 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $74.13, for a total transaction of $364,052.43. Following the sale, the executive vice president directly owned 95,450 shares of the company’s stock, valued at $7,075,708.50. The trade was a 4.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the transaction, the insider owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. This represents a 7.52% 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 have sold a total of 73,035 shares of company stock valued at $5,446,673 over the last quarter. 0.28% of the stock is currently owned by corporate insiders.
DexCom Price Performance
Shares of DXCM opened at $88.96 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The stock has a market capitalization of $33.57 billion, a P/E ratio of 35.16, a P/E/G ratio of 1.50 and a beta of 1.41. The company has a 50 day moving average of $78.50 and a 200-day moving average of $71.33.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that DexCom, Inc. will post 2.64 EPS for the current fiscal year.
DexCom Company Profile
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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