Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 302.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,856 shares of the medical device company’s stock after buying an additional 19,426 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DexCom were worth $1,927,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Diversified Trust Co raised its holdings in DexCom by 590.0% during the 2nd quarter. Diversified Trust Co now owns 60,699 shares of the medical device company’s stock worth $4,524,000 after buying an additional 51,902 shares during the period. Polaris Wealth Advisory Group LLC raised its holdings in shares of DexCom by 291.0% in the second quarter. Polaris Wealth Advisory Group LLC now owns 2,897 shares of the medical device company’s stock valued at $216,000 after purchasing an additional 2,156 shares during the last quarter. Arden Trust Co raised its holdings in shares of DexCom by 360.9% in the second quarter. Arden Trust Co now owns 5,176 shares of the medical device company’s stock valued at $385,000 after purchasing an additional 4,053 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV raised its holdings in shares of DexCom by 291.5% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 12,597 shares of the medical device company’s stock valued at $939,000 after purchasing an additional 9,379 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its holdings in shares of DexCom by 306.1% in the second quarter. Revolve Wealth Partners LLC now owns 2,871 shares of the medical device company’s stock valued at $214,000 after purchasing an additional 2,164 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on DXCM. Oppenheimer lowered their price objective on shares of DexCom from $131.00 to $105.00 in a report on Friday, July 29th. Wells Fargo & Company lowered their price objective on shares of DexCom from $144.00 to $102.00 in a report on Friday, July 29th. Citigroup lowered their price objective on shares of DexCom from $105.00 to $100.00 in a 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 for the company in a research note on Friday, July 29th. Finally, Robert W. Baird decreased their target price on shares of DexCom from $115.00 to $97.00 in a research note on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus price target of $115.23.
DexCom Trading Down 4.1 %
Shares of DexCom stock opened at $80.96 on Friday. The firm has a 50-day moving average of $86.18 and a 200-day moving average of $91.47. The stock has a market cap of $31.78 billion, a PE ratio of 168.67, a PEG ratio of 3.53 and a beta of 1.03. DexCom, Inc. has a 52-week low of $66.89 and a 52-week high of $164.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.30 and a current ratio of 4.72.
DexCom (NASDAQ:DXCM – Get Rating) last announced its earnings results on Thursday, July 28th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $696.20 million during 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 was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. As a group, sell-side analysts forecast that DexCom, Inc. will post 0.79 EPS for the current year.
DexCom Company Profile
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.
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