DexCom, Inc. $DXCM Position Increased by Gradient Investments LLC

Gradient Investments LLC raised its position in DexCom, Inc. (NASDAQ:DXCM) by 16.7% during the second quarter, HoldingsChannel.com reports. The firm owned 372,542 shares of the medical device company’s stock after buying an additional 53,283 shares during the quarter. Gradient Investments LLC’s holdings in DexCom were worth $25,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Reflection Asset Management bought a new stake in shares of DexCom in the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new stake in DexCom in the first quarter valued at approximately $25,000. MCF Advisors LLC bought a new stake in DexCom in the fourth quarter worth approximately $32,000. Wellington Grp LLC increased its stake in shares of DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after purchasing an additional 475 shares during the last quarter. Finally, DV Equities LLC acquired a new position in shares of DexCom during the 4th quarter worth $36,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Up 2.1%

DXCM stock opened at $84.75 on Friday. The stock has a market capitalization of $31.98 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.41. The company has a 50-day moving average of $74.42 and a two-hundred day moving average of $69.73. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $87.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM) last posted 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 return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company 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 anticipate that DexCom, Inc. will post 2.65 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the sale, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the sale, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. The trade was a 6.54% decrease in their position. 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 102,506 shares of company stock valued at $7,535,898 in the last three months. 0.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DXCM has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Truist Financial set a $93.00 target price on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. Royal Bank Of Canada raised their target price on DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 price target on DexCom and gave the stock a “buy” rating in a research report on Monday. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $94.00 price target on shares of DexCom in a research note on Friday, July 31st. Two 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.71.

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.