Paragon Advisors LLC acquired a new position in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,669 shares of the medical device company’s stock, valued at approximately $677,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its holdings in shares of DexCom by 0.3% in the 1st quarter. Baillie Gifford & Co. now owns 4,830,552 shares of the medical device company’s stock worth $1,300,723,000 after acquiring an additional 15,253 shares during the period. Wellington Management Group LLP increased its holdings in shares of DexCom by 2.4% in the 1st quarter. Wellington Management Group LLP now owns 1,578,108 shares of the medical device company’s stock worth $424,938,000 after acquiring an additional 36,470 shares during the period. Geode Capital Management LLC increased its holdings in shares of DexCom by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 1,222,304 shares of the medical device company’s stock worth $328,893,000 after acquiring an additional 102,430 shares during the period. Blair William & Co. IL increased its stake in DexCom by 4.9% during the 4th quarter. Blair William & Co. IL now owns 1,205,089 shares of the medical device company’s stock valued at $263,601,000 after buying an additional 56,352 shares during the period. Finally, Norges Bank acquired a new position in DexCom during the 4th quarter valued at about $200,017,000. 97.08% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Kevin R. Sayer sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $344.63, for a total transaction of $2,067,780.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Barbara Kahn sold 7,000 shares of DexCom stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $380.71, for a total transaction of $2,664,970.00. Following the completion of the transaction, the director now directly owns 787 shares in the company, valued at approximately $299,618.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,982 shares of company stock worth $22,443,698. Insiders own 0.69% of the company’s stock.
Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of DexCom from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. SVB Leerink raised their target price on shares of DexCom from $316.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Zacks Investment Research cut shares of DexCom from a “buy” rating to a “hold” rating and set a $430.00 target price on the stock. in a research note on Monday, June 22nd. BidaskClub cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 5th. Finally, Morgan Stanley raised their target price on shares of DexCom from $278.00 to $377.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $355.86.
Shares of DXCM traded up $2.68 during midday trading on Tuesday, hitting $425.86. The stock had a trading volume of 909,088 shares, compared to its average volume of 1,196,746. DexCom, Inc. has a fifty-two week low of $138.28 and a fifty-two week high of $432.90. The business has a 50-day simple moving average of $389.49 and a two-hundred day simple moving average of $299.40. The firm has a market cap of $39.08 billion, a P/E ratio of 269.88 and a beta of 0.79. The company has a current ratio of 5.82, a quick ratio of 5.41 and a debt-to-equity ratio of 1.23.
DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Tuesday, April 28th. The medical device company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.15 by $0.29. The business had revenue of $405.10 million during the quarter, compared to analysts’ expectations of $358.34 million. DexCom had a net margin of 9.24% and a return on equity of 26.44%. The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. On average, analysts expect that DexCom, Inc. will post 2.23 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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