Korea Investment CORP Acquires 390,501 Shares of DexCom, Inc. $DXCM

Korea Investment CORP grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 103.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 769,664 shares of the medical device company’s stock after acquiring an additional 390,501 shares during the quarter. Korea Investment CORP’s holdings in DexCom were worth $51,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DXCM. Norges Bank acquired a new stake in shares of DexCom in the 2nd quarter valued at approximately $453,279,000. Groupama Asset Managment increased its position in DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock worth $350,601,000 after purchasing an additional 4,011,438 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in DexCom by 106.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after purchasing an additional 3,410,858 shares in the last quarter. Marshall Wace LLP lifted its stake in DexCom by 260.7% in the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after purchasing an additional 2,762,504 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in DexCom by 82.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock valued at $317,137,000 after purchasing an additional 1,638,407 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 3.7%

Shares of NASDAQ DXCM opened at $68.10 on Monday. The company’s 50 day moving average price is $70.69 and its 200-day moving average price is $68.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a market capitalization of $26.21 billion, a P/E ratio of 32.43, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.45 earnings per share. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on DXCM shares. Evercore began coverage on shares of DexCom in a research note on Tuesday, November 25th. They set an “in-line” rating and a $68.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Morgan Stanley reissued an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Finally, BTIG Research reiterated a “buy” rating and issued a $85.00 target price on shares of DexCom in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.18.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.