Wedbush Securities Inc. grew its holdings in DexCom, Inc. (NASDAQ:DXCM) by 9.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,704 shares of the medical device company’s stock after buying an additional 327 shares during the period. Wedbush Securities Inc.’s holdings in DexCom were worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cognios Capital LLC acquired a new stake in shares of DexCom in the first quarter valued at about $26,000. Weaver Consulting Group acquired a new stake in shares of DexCom in the first quarter valued at about $27,000. Nvwm LLC acquired a new stake in shares of DexCom in the first quarter valued at about $27,000. Flagship Harbor Advisors LLC raised its position in shares of DexCom by 214.3% in the first quarter. Flagship Harbor Advisors LLC now owns 110 shares of the medical device company’s stock valued at $30,000 after buying an additional 75 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of DexCom in the first quarter valued at about $35,000. Institutional investors and hedge funds own 97.08% of the company’s stock.
DXCM has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of DexCom from $361.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. UBS Group raised their price objective on shares of DexCom from $275.00 to $335.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Piper Sandler raised their price objective on shares of DexCom from $375.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Oppenheimer raised their price objective on shares of DexCom from $305.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Stephens cut their price objective on shares of DexCom from $300.00 to $240.00 and set an “overweight” rating for the company in a research report on Monday, March 23rd. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. DexCom presently has a consensus rating of “Buy” and an average price target of $355.86.
In other news, SVP Shelly Ramasamy Selvaraj sold 400 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $404.05, for a total value of $161,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Doubleday sold 1,530 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $318.57, for a total transaction of $487,412.10. Following the completion of the sale, the executive vice president now directly owns 51,482 shares in the company, valued at approximately $16,400,620.74. The disclosure for this sale can be found here. In the last three months, insiders sold 63,292 shares of company stock valued at $24,100,164. Insiders own 0.69% of the company’s stock.
NASDAQ DXCM opened at $417.94 on Friday. The firm has a 50 day simple moving average of $394.23 and a 200-day simple moving average of $310.01. The company has a debt-to-equity ratio of 1.23, a quick ratio of 5.41 and a current ratio of 5.82. DexCom, Inc. has a one year low of $138.28 and a one year high of $446.50. The firm has a market cap of $38.59 billion, a price-to-earnings ratio of 180.15 and a beta of 0.79.
DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Tuesday, April 28th. The medical device company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.29. DexCom had a net margin of 9.24% and a return on equity of 26.44%. The business had revenue of $405.10 million during the quarter, compared to analyst estimates of $358.34 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was up 44.4% compared to the same quarter last year. Equities analysts predict that DexCom, Inc. will post 2.23 EPS for the current fiscal 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 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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