Vanguard Group Inc. Raises Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Vanguard Group Inc. increased its stake in DexCom, Inc. (NASDAQ:DXCM) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,603,745 shares of the medical device company’s stock after purchasing an additional 136,282 shares during the period. Vanguard Group Inc. owned 11.22% of DexCom worth $6,186,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of DXCM. CX Institutional acquired a new position in shares of DexCom in the 4th quarter valued at $286,000. Bank of New Hampshire acquired a new position in shares of DexCom in the 1st quarter valued at $1,508,000. abrdn plc lifted its stake in shares of DexCom by 21.1% in the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after purchasing an additional 66,348 shares during the period. Cerity Partners LLC lifted its stake in shares of DexCom by 5,791.0% in the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after purchasing an additional 456,097 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in shares of DexCom by 21.5% in the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after purchasing an additional 310,728 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several recent analyst reports. Raymond James boosted their price target on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. UBS Group boosted their price target on shares of DexCom from $153.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley cut their price target on shares of DexCom from $132.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus dropped their target price on shares of DexCom from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, July 12th. Finally, Canaccord Genuity Group upped their target price on shares of DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average price target of $139.33.

Insider Activity

In related news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares in the company, valued at $8,055,854.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the sale, the executive vice president now owns 67,560 shares of the company’s stock, valued at $8,055,854.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jereme M. Sylvain sold 745 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $85,712.25. Following the sale, the chief financial officer now directly owns 84,948 shares in the company, valued at approximately $9,773,267.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,112 shares of company stock valued at $480,861. 0.30% of the stock is currently owned by company insiders.

DexCom Trading Up 0.9 %

DXCM stock traded up $0.96 during mid-day trading on Friday, hitting $111.66. 2,274,469 shares of the company were exchanged, compared to its average volume of 2,634,305. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $44.40 billion, a P/E ratio of 72.04, a PEG ratio of 2.73 and a beta of 1.16. The business has a fifty day simple moving average of $118.01 and a 200-day simple moving average of $124.61. DexCom, Inc. has a 12-month low of $74.75 and a 12-month high of $142.00.

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

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.