99,181 Shares in DexCom, Inc. $DXCM Acquired by Cibc World Market Inc.

Cibc World Market Inc. acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the second quarter, HoldingsChannel reports. The firm acquired 99,181 shares of the medical device company’s stock, valued at approximately $6,680,000.

Several other hedge funds also recently bought and sold shares of the business. Reflection Asset Management purchased a new stake in shares of DexCom during the fourth quarter valued at $25,000. Ascentis Independent Advisors bought a new position in shares of DexCom in the first quarter worth about $25,000. MCF Advisors LLC purchased a new position in DexCom in the 4th quarter worth about $32,000. Wellington Grp LLC lifted its holdings in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after buying an additional 475 shares in the last quarter. Finally, DV Equities LLC bought a new stake in DexCom during the 4th quarter valued at about $36,000. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 2.1%

Shares of DexCom stock opened at $89.16 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock has a market cap of $33.65 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.54 and a beta of 1.41. The firm’s 50-day moving average is $78.15 and its two-hundred day moving average is $71.19. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 52,852 shares of the company’s stock, valued at approximately $3,917,918.76. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 company’s stock in a transaction 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 sale, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 73,035 shares of company stock valued at $5,446,673. 0.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. William Blair raised shares of DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Truist Financial set a $93.00 price objective on DexCom and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings upgraded DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Benchmark lifted their target price on DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.71.

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.