SEB Asset Management AB Makes New $23.68 Million Investment in DexCom, Inc. $DXCM

SEB Asset Management AB purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) in the first quarter, HoldingsChannel reports. The firm purchased 377,064 shares of the medical device company’s stock, valued at approximately $23,680,000.

A number of other hedge funds have also modified their holdings of the company. Reflection Asset Management acquired a new stake in DexCom in the fourth quarter worth $25,000. Ascentis Independent Advisors acquired a new position in shares of DexCom in the 1st quarter valued at $25,000. CVA Family Office LLC grew its holdings in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after buying an additional 147 shares during the period. MCF Advisors LLC bought a new stake in shares of DexCom in the 4th quarter valued at $32,000. Finally, ORG Partners LLC raised its stake in DexCom by 124.3% during the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after buying an additional 281 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

DXCM opened at $76.65 on Monday. The stock’s fifty day simple moving average is $71.16 and its 200 day simple moving average is $68.74. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The stock has a market cap of $29.58 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Activity at DexCom

In other news, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the transaction, the director owned 52,852 shares of the company’s stock, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares in the company, valued at approximately $8,034,969.15. This trade represents a 1.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,750 shares of company stock worth $5,163,241 in the last quarter. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on DXCM shares. Barclays reissued an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Truist Financial raised their price target on DexCom from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus set a $90.00 price objective on DexCom and gave the company a “buy” rating in a report on Friday, June 5th. Wall Street Zen downgraded DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, William Blair raised DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.36.

DexCom 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.