Wealthfront Advisers LLC lifted its stake in DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 839.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,682 shares of the medical device company's stock after purchasing an additional 23,841 shares during the period. Wealthfront Advisers LLC's holdings in DexCom were worth $1,989,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of DXCM. Riverview Trust Co acquired a new stake in shares of DexCom in the first quarter valued at approximately $25,000. CVA Family Office LLC increased its holdings in shares of DexCom by 100.0% in the second quarter. CVA Family Office LLC now owns 330 shares of the medical device company's stock valued at $25,000 after purchasing an additional 165 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased 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 purchasing an additional 34 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of DexCom by 196.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 512 shares of the medical device company's stock valued at $38,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company's stock.
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DexCom Trading Down 1.9 %
Shares of NASDAQ DXCM opened at $80.54 on Monday. The company's fifty day moving average is $86.18 and its 200-day moving average is $90.34. The stock has a market cap of $31.62 billion, a price-to-earnings ratio of 167.80, a P/E/G ratio of 3.32 and a beta of 1.03. DexCom, Inc. has a twelve month low of $66.89 and a twelve month high of $164.86. The company has a quick ratio of 4.30, a current ratio of 4.72 and a debt-to-equity ratio of 0.87.
DexCom (NASDAQ:DXCM – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical device company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). DexCom had a return on equity of 11.79% and a net
margin of 7.47%. The company had revenue of $696.20 million for the quarter, compared to analyst estimates of $709.33 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company's revenue was up 17.0% on a year-over-year basis. Equities research analysts predict that DexCom, Inc. will post 0.79 EPS for the current year.
Insider Buying and Selling
In related news, Director Steven Robert Pacelli sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $84.21, for a total transaction of $84,210.00. Following the sale, the director now directly owns 137,700 shares in the company, valued at $11,595,717. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
DXCM has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on shares of DexCom in a report on Friday, July 15th. They issued an "outperform" rating and a $105.00 price target for the company. BTIG Research reduced their price objective on shares of DexCom from $135.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, June 24th. Cowen reaffirmed a "buy" rating and issued a $85.00 price objective on shares of DexCom in a research note on Friday, July 29th. Morgan Stanley reduced their price objective on shares of 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, Wells Fargo & Company reduced their price objective on shares of DexCom from $144.00 to $102.00 in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $115.23.
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.
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