DexCom, Inc. $DXCM Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 11.2% during the third quarter, HoldingsChannel.com reports. The firm owned 212,045 shares of the medical device company’s stock after acquiring an additional 21,352 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DexCom were worth $14,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in DexCom by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 48,322,405 shares of the medical device company’s stock valued at $4,218,063,000 after purchasing an additional 866,506 shares during the last quarter. Jennison Associates LLC grew its stake in shares of DexCom by 9.4% during the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after acquiring an additional 994,300 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of DexCom by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after acquiring an additional 358,617 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in DexCom by 106.8% during the second 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 during the period. Finally, Norges Bank bought a new position in DexCom in the 2nd quarter valued at about $453,279,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Canaccord Genuity Group set a $99.00 price target on DexCom and gave the company a “buy” rating in a research note on Friday, October 31st. Piper Sandler set a $75.00 target price on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, October 31st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $86.00 target price (up previously from $84.00) on shares of DexCom in a research note on Friday, January 9th. Barclays lowered DexCom from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $80.00 to $71.00 in a research note on Monday, January 12th. Finally, TD Cowen lowered their price target on shares of DexCom from $100.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.30.

DexCom Trading Down 1.3%

NASDAQ:DXCM opened at $73.04 on Friday. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $93.25. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $28.49 billion, a P/E ratio of 40.58, a PEG ratio of 1.33 and a beta of 1.48. The firm has a fifty day simple moving average of $67.82 and a 200-day simple moving average of $70.86.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. DexCom had a return on equity of 30.65% and a net margin of 15.96%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business earned $0.45 EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. On average, equities research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $58.07, for a total transaction of $58,766.84. Following the completion of the transaction, the director owned 27,031 shares of the company’s stock, valued at approximately $1,569,690.17. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jacob Steven Leach acquired 18,200 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $55.04 per share, for a total transaction of $1,001,728.00. Following the acquisition, the chief operating officer directly owned 331,697 shares of the company’s stock, valued at approximately $18,256,602.88. The trade was a 5.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 7,866 shares of company stock valued at $448,177 over the last quarter. Company insiders own 0.32% of the company’s stock.

DexCom Company Profile

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.