BlackRock Advisors LLC boosted its position in DexCom Inc. (NASDAQ:DXCM) by 7.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 213,751 shares of the medical device company’s stock after buying an additional 14,263 shares during the period. BlackRock Advisors LLC owned approximately 0.25% of DexCom worth $16,957,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of DXCM. Bridger Management LLC bought a new stake in DexCom during the first quarter worth approximately $56,651,000. State Street Corp raised its stake in DexCom by 7.2% in the first quarter. State Street Corp now owns 1,055,774 shares of the medical device company’s stock worth $71,699,000 after buying an additional 71,009 shares during the period. Renaissance Technologies LLC raised its stake in DexCom by 17.9% in the first quarter. Renaissance Technologies LLC now owns 817,943 shares of the medical device company’s stock worth $55,547,000 after buying an additional 124,000 shares during the period. Geode Capital Management LLC raised its stake in DexCom by 6.3% in the first quarter. Geode Capital Management LLC now owns 523,958 shares of the medical device company’s stock worth $35,581,000 after buying an additional 31,209 shares during the period. Finally, Calamos Advisors LLC bought a new stake in DexCom during the second quarter worth approximately $22,764,000. 99.37% of the stock is owned by institutional investors and hedge funds.
Shares of DexCom Inc. (NASDAQ:DXCM) opened at 89.74 on Thursday. The stock’s market capitalization is $7.53 billion. The company’s 50 day moving average price is $92.09 and its 200-day moving average price is $76.85. DexCom Inc. has a 12 month low of $47.92 and a 12 month high of $96.38.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Tuesday, August 2nd. The medical device company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.12. DexCom had a negative net margin of 16.42% and a negative return on equity of 19.68%. The business had revenue of $137.30 million for the quarter, compared to analysts’ expectations of $132.48 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts predict that DexCom Inc. will post ($0.57) earnings per share for the current year.
DXCM has been the topic of several research analyst reports. B. Riley initiated coverage on DexCom in a research report on Monday. They set a “neutral” rating and a $97.00 target price on the stock. Jefferies Group restated a “buy” rating and set a $98.00 target price on shares of DexCom in a research report on Wednesday, August 3rd. Benchmark Co. cut their target price on DexCom from $106.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. BMO Capital Markets initiated coverage on DexCom in a research report on Friday, September 16th. They set an “outperform” rating and a $112.00 target price on the stock. Finally, Desjardins upgraded DexCom from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $95.08.
In other DexCom news, insider Jorge A. Valdes sold 32,000 shares of DexCom stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $79.36, for a total transaction of $2,539,520.00. Following the sale, the insider now directly owns 123,667 shares of the company’s stock, valued at approximately $9,814,213.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard Doubleday sold 3,182 shares of DexCom stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $93.97, for a total value of $299,012.54. Following the sale, the executive vice president now directly owns 83,582 shares in the company, valued at $7,854,200.54. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers for the treatment of people with and without diabetes. Its products include SEVEN PLUS, DexCom G4, DexCom G4 PLATINUM, DexCom Share System and DexCom G5 Mobile.
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