Rakuten Investment Management Inc. Purchases 8,108 Shares of DexCom, Inc. $DXCM

Rakuten Investment Management Inc. raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 8.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 101,020 shares of the medical device company’s stock after purchasing an additional 8,108 shares during the quarter. Rakuten Investment Management Inc.’s holdings in DexCom were worth $8,752,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. increased its position in shares of DexCom by 27.7% in the third quarter. Mather Group LLC. now owns 563 shares of the medical device company’s stock valued at $49,000 after acquiring an additional 122 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of DexCom by 2.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 5,510 shares of the medical device company’s stock valued at $475,000 after acquiring an additional 150 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of DexCom by 61.0% during the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock worth $35,000 after purchasing an additional 152 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock worth $77,000 after purchasing an additional 153 shares during the period. Finally, Simplicity Wealth LLC boosted its holdings in shares of DexCom by 5.4% during the third quarter. Simplicity Wealth LLC now owns 3,169 shares of the medical device company’s stock worth $273,000 after purchasing an additional 162 shares during the period. Institutional investors own 97.75% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on DXCM. Evercore raised their target price on DexCom from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Rothschild & Co Redburn upped their price target on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. UBS Group increased their price objective on DexCom from $102.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Argus increased their price objective on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Barclays lifted their price objective on DexCom from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, DexCom currently has a consensus rating of “Buy” and a consensus target price of $95.50.

DexCom Stock Performance

Shares of DXCM opened at $84.46 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.74 and a quick ratio of 1.40. DexCom, Inc. has a one year low of $54.11 and a one year high of $92.59. The company has a 50-day simple moving average of $85.40 and a two-hundred day simple moving average of $74.96. The firm has a market capitalization of $31.50 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts anticipate that DexCom, Inc. will post 2.68 EPS for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $88.37, for a total value of $226,669.05. Following the sale, the executive vice president directly owned 126,043 shares of the company’s stock, valued at $11,138,419.91. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total value of $302,936.26. Following the completion of the transaction, the executive vice president owned 146,828 shares of the company’s stock, valued at approximately $12,226,367.56. This trade represents a 2.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 22,822 shares of company stock worth $1,920,193. 0.28% of the stock is owned by company insiders.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.