Legal & General Group Plc Makes New Investment in DexCom, Inc. $DXCM

Legal & General Group Plc acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) in the second quarter, HoldingsChannel.com reports. The firm acquired 2,572,193 shares of the medical device company’s stock, valued at approximately $173,237,000.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in DexCom during the 4th quarter worth $483,356,000. AQR Capital Management LLC boosted its holdings in DexCom by 597.8% in the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after purchasing an additional 2,658,158 shares in the last quarter. Deutsche Bank AG acquired a new position in DexCom during the second quarter worth $164,035,000. Employees Provident Fund Board acquired a new position in shares of DexCom during the 4th quarter worth $145,352,000. Finally, J. Stern & Co. LLP grew its position in DexCom by 2,114.8% during the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after buying an additional 1,529,641 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Down 0.2%

Shares of NASDAQ DXCM opened at $88.96 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59. The stock’s 50-day simple moving average is $78.50 and its 200-day simple moving average is $71.33. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 1.50 and a beta of 1.41.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DXCM. Piper Sandler restated an “overweight” rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Sanford C. Bernstein set a $77.00 price target on DexCom in a report on Friday, May 1st. BTIG Research reaffirmed a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Robert W. Baird set a $105.00 target price on DexCom in a research report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Insider Transactions at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,756 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the sale, the insider owned 328,970 shares in the company, valued at $25,106,990.40. This represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $85.32, for a total value of $170,640.00. Following the sale, the director directly owned 48,852 shares in the company, valued at approximately $4,168,052.64. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 73,035 shares of company stock valued at $5,446,673 in the last three months. Corporate insiders own 0.28% of the company’s stock.

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.