JPMorgan Chase & Co. raised its stake in shares of DexCom Inc. (NASDAQ:DXCM) by 1,029.1% during the second quarter, Holdings Channel reports. The fund owned 104,923 shares of the medical device company’s stock after buying an additional 95,630 shares during the period. JPMorgan Chase & Co. owned approximately 0.13% of DexCom worth $8,324,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Riverhead Capital Management LLC purchased a new stake in DexCom during the first quarter worth $3,951,000. AXA increased its stake in DexCom by 2.5% in the first quarter. AXA now owns 524,721 shares of the medical device company’s stock worth $35,634,000 after buying an additional 12,791 shares during the last quarter. State Street Corp increased 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 last quarter. Cupps Capital Management LLC increased its stake in DexCom by 20.9% in the first quarter. Cupps Capital Management LLC now owns 43,464 shares of the medical device company’s stock worth $2,951,000 after buying an additional 7,518 shares during the last quarter. Finally, Menta Capital LLC purchased a new stake in DexCom during the first quarter worth $679,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.
DexCom Inc. (NASDAQ:DXCM) traded down 0.07% on Friday, hitting $83.02. The stock had a trading volume of 226,907 shares. DexCom Inc. has a 52 week low of $47.92 and a 52 week high of $96.38. The stock’s market capitalization is $6.96 billion. The company has a 50-day moving average price of $91.10 and a 200-day moving average price of $77.74.
DexCom (NASDAQ:DXCM) last announced its earnings results on Tuesday, August 2nd. The medical device company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.12. The company had revenue of $137.30 million for the quarter, compared to the consensus estimate of $132.48 million. DexCom had a negative return on equity of 19.68% and a negative net margin of 16.42%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. Equities research analysts anticipate that DexCom Inc. will post ($0.57) earnings per share for the current fiscal year.
DXCM has been the subject of a number of recent research reports. 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. dropped their price objective on DexCom from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Deutsche Bank AG upped their price objective on DexCom from $90.00 to $98.00 and gave the company a “buy” rating in a report on Friday, July 15th. Canaccord Genuity reiterated a “buy” rating and issued a $95.00 price objective on shares of DexCom in a report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of DexCom in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. DexCom presently has an average rating of “Buy” and a consensus target price of $95.08.
In related news, insider Jorge A. Valdes sold 32,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 123,667 shares of the company’s stock, valued at approximately $9,814,213.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew K. Balo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $80.12, for a total value of $400,600.00. Following the transaction, the executive vice president now directly owns 134,979 shares of the company’s stock, valued at $10,814,517.48. 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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