Westpac Banking Corp raised its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 22.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,445 shares of the medical device company’s stock after acquiring an additional 10,150 shares during the quarter. Westpac Banking Corp owned approximately 0.06% of DexCom worth $8,308,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Gradient Investments LLC acquired a new position in DexCom in the second quarter valued at about $25,000. Steward Partners Investment Advisory LLC acquired a new position in DexCom in the second quarter valued at about $31,000. Private Ocean LLC acquired a new position in DexCom in the first quarter valued at about $36,000. Wealthcare Advisory Partners LLC acquired a new position in DexCom in the second quarter valued at about $37,000. Finally, Bremer Bank National Association acquired a new position in DexCom in the first quarter valued at about $42,000. 96.13% of the stock is owned by institutional investors.
In related news, EVP Steven Robert Pacelli sold 3,597 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $116.71, for a total value of $419,805.87. Following the sale, the executive vice president now directly owns 72,570 shares in the company, valued at $8,469,644.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Patrick Michael Murphy sold 400 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $127.03, for a total value of $50,812.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,665 shares of company stock worth $7,344,275. Company insiders own 1.80% of the company’s stock.
A number of research analysts have issued reports on DXCM shares. BidaskClub upgraded DexCom from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Canaccord Genuity lifted their target price on DexCom from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James lifted their target price on DexCom from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Piper Jaffray Companies lifted their target price on DexCom from $173.00 to $182.00 and gave the company a “positive” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird lifted their target price on DexCom from $180.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. DexCom currently has an average rating of “Buy” and an average target price of $166.75.
Shares of NASDAQ:DXCM traded up $2.97 during midday trading on Thursday, hitting $156.47. 7,145 shares of the stock were exchanged, compared to its average volume of 903,495. The firm has a market cap of $14.00 billion, a PE ratio of 519.22 and a beta of 0.80. The company has a debt-to-equity ratio of 1.56, a current ratio of 6.05 and a quick ratio of 5.64. The business’s 50-day simple moving average is $150.23. DexCom, Inc. has a 12 month low of $105.05 and a 12 month high of $161.30.
DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Wednesday, July 31st. The medical device company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The company had revenue of $336.40 million for the quarter, compared to analysts’ expectations of $304.40 million. DexCom had a positive return on equity of 10.41% and a negative net margin of 13.96%. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) earnings per share. Research analysts forecast that DexCom, Inc. will post 0.97 earnings per share for the current fiscal year.
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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.
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