State of Alaska Department of Revenue grew its stake in shares of DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 279.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,411 shares of the medical device company’s stock after buying an additional 41,537 shares during the quarter. State of Alaska Department of Revenue’s holdings in DexCom were worth $4,204,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in DXCM. Jennison Associates LLC raised its position in shares of DexCom by 83.4% during the 1st quarter. Jennison Associates LLC now owns 2,600,283 shares of the medical device company’s stock valued at $1,330,305,000 after buying an additional 1,182,632 shares in the last quarter. Sands Capital Management LLC raised its position in shares of DexCom by 33.9% during the 1st quarter. Sands Capital Management LLC now owns 4,189,245 shares of the medical device company’s stock valued at $2,143,218,000 after buying an additional 1,060,655 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of DexCom by 304.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,318,079 shares of the medical device company’s stock valued at $674,329,000 after buying an additional 992,049 shares in the last quarter. Capital Research Global Investors raised its position in shares of DexCom by 55.2% during the 4th quarter. Capital Research Global Investors now owns 2,374,545 shares of the medical device company’s stock valued at $1,275,020,000 after buying an additional 844,916 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of DexCom during the 4th quarter valued at $410,670,000. Hedge funds and other institutional investors own 92.34% of the company’s stock.
In related news, Director Steven Robert Pacelli sold 1,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $83.07, for a total transaction of $83,070.00. Following the sale, the director now owns 138,700 shares of the company’s stock, valued at $11,521,809. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.
DexCom Trading Down 3.3 %
DexCom (NASDAQ:DXCM – Get Rating) last announced its earnings results on Thursday, July 28th. The medical device company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $696.20 million for the quarter, compared to the consensus estimate of $709.33 million. DexCom had a net margin of 7.47% and a return on equity of 11.79%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. Sell-side analysts anticipate that DexCom, Inc. will post 0.79 EPS for the current year.
Analyst Ratings Changes
DXCM has been the topic of several research reports. Cowen restated a “buy” rating and set a $85.00 price objective on shares of DexCom in a research report on Friday, July 29th. Wells Fargo & Company decreased their target price on shares of DexCom from $144.00 to $102.00 in a research report on Friday, July 29th. Oppenheimer decreased their target price on shares of DexCom from $131.00 to $105.00 in a research report on Friday, July 29th. Piper Sandler decreased their target price on shares of DexCom from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th. Finally, Morgan Stanley decreased their target price on shares of DexCom from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, July 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.23.
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, an integrated CGM system for diabetes management; Dexcom Real-Time API, which enables invited third-party developers to integrate real-time CGM data into their digital health applications and devices; Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions; and Dexcom Share, a remote monitoring system.
- Get a free copy of the StockNews.com research report on DexCom (DXCM)
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