OVERSEA CHINESE BANKING Corp Ltd Raises Stock Position in DexCom, Inc. $DXCM

OVERSEA CHINESE BANKING Corp Ltd increased its stake in DexCom, Inc. (NASDAQ:DXCM) by 17.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 66,302 shares of the medical device company’s stock after acquiring an additional 9,759 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in DexCom were worth $4,400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Brighton Jones LLC increased its holdings in DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC increased its holdings in DexCom by 5.4% in the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after acquiring an additional 436 shares in the last quarter. Focus Partners Wealth increased its holdings in DexCom by 13.2% in the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after acquiring an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in DexCom by 1.4% in the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the completion of the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DXCM shares. Canaccord Genuity Group set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a report on Friday, February 13th. Evercore raised shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Tuesday, March 24th. Piper Sandler reissued an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Mizuho upped their price objective on shares of DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Finally, Citigroup upped their price objective on shares of DexCom from $77.00 to $84.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

DexCom Stock Down 3.1%

Shares of DXCM opened at $62.60 on Wednesday. The company’s 50-day simple moving average is $67.13 and its 200-day simple moving average is $66.69. 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 1 year low of $54.11 and a 1 year high of $89.98. The stock has a market capitalization of $24.16 billion, a PE ratio of 29.81, a P/E/G ratio of 1.26 and a beta of 1.55.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts forecast that DexCom, Inc. will post 2.49 earnings per share for the current fiscal year.

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.