Lynch Asset Management Inc. boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 410.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,000 shares of the medical device company's stock after buying an additional 9,650 shares during the quarter. Lynch Asset Management Inc.'s holdings in DexCom were worth $895,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of DexCom during the fourth quarter worth $26,000. Riverview Trust Co bought a new stake in shares of DexCom in the first quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of DexCom by 85.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 74 shares of the medical device company's stock valued at $38,000 after acquiring an additional 34 shares in the last quarter. Bivin & Associates Inc. raised its holdings in shares of DexCom by 125.0% in the first quarter. Bivin & Associates Inc. now owns 90 shares of the medical device company's stock valued at $46,000 after acquiring an additional 50 shares in the last quarter. Finally, American National Bank raised its holdings in shares of DexCom by 33.8% in the first quarter. American National Bank now owns 91 shares of the medical device company's stock valued at $47,000 after acquiring an additional 23 shares in the last quarter. 92.34% of the stock is owned by hedge funds and other institutional investors.
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DexCom Stock Performance
NASDAQ:DXCM traded down $1.56 during trading hours on Friday, reaching $80.54. The company had a trading volume of 2,032,106 shares, compared to its average volume of 2,155,714. DexCom, Inc. has a 1-year low of $66.89 and a 1-year high of $164.86. The firm has a market cap of $31.62 billion, a PE ratio of 167.80, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The business's 50 day moving average price is $86.18 and its 200-day moving average price is $90.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.72 and a quick ratio of 4.30.
DexCom (NASDAQ:DXCM – Get Rating) last announced its quarterly 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). DexCom had a net
margin of 7.47% and a return on equity of 11.79%. The company had revenue of $696.20 million during the quarter, compared to analyst estimates of $709.33 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company's revenue was up 17.0% compared to the same quarter last year. Research analysts forecast that DexCom, Inc. will post 0.79 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have issued reports on DXCM. BTIG Research cut their target price on DexCom from $135.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, June 24th. Cowen restated a "buy" rating and set a $85.00 price target on shares of DexCom in a research note on Friday, July 29th. Piper Sandler dropped their price target on DexCom from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, July 29th. Morgan Stanley dropped their price target on DexCom from $91.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Friday, July 29th. Finally, Sanford C. Bernstein began coverage on DexCom in a research note on Friday, July 15th. They set an "outperform" rating and a $105.00 price target on the stock. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $115.23.
Insider Transactions at DexCom
In other news, Director Steven Robert Pacelli sold 1,000 shares of the company's stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $83.07, for a total transaction of $83,070.00. Following the completion of the transaction, the director now directly owns 138,700 shares of the company's stock, valued at approximately $11,521,809. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company's stock.
About DexCom
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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.
Further Reading
- Get a free copy of the StockNews.com research report on DexCom (DXCM)
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