Mirae Asset Global Investments Co. Ltd. raised its stake in DexCom, Inc. (NASDAQ:DXCM) by 138.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,700 shares of the medical device company’s stock after buying an additional 15,500 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DexCom were worth $2,262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its position in DexCom by 304.3% in the first quarter. Bank of New York Mellon Corp now owns 2,546,729 shares of the medical device company’s stock valued at $215,785,000 after buying an additional 1,916,759 shares during the period. Janus Capital Management LLC raised its position in DexCom by 99.7% in the fourth quarter. Janus Capital Management LLC now owns 3,565,809 shares of the medical device company’s stock valued at $213,021,000 after buying an additional 1,779,973 shares during the period. Brown Advisory Inc. raised its position in DexCom by 31.1% in the fourth quarter. Brown Advisory Inc. now owns 4,797,406 shares of the medical device company’s stock valued at $286,406,000 after buying an additional 1,138,100 shares during the period. Fred Alger Management Inc. raised its position in DexCom by 48.9% in the fourth quarter. Fred Alger Management Inc. now owns 2,469,482 shares of the medical device company’s stock valued at $147,428,000 after buying an additional 811,062 shares during the period. Finally, Norges Bank acquired a new position in DexCom during the fourth quarter valued at $27,815,000.
Shares of DexCom, Inc. (NASDAQ:DXCM) traded down 1.46% during mid-day trading on Friday, reaching $67.66. The company had a trading volume of 1,632,226 shares. The company’s market capitalization is $5.84 billion. The firm has a 50-day moving average of $75.47 and a 200-day moving average of $73.57. DexCom, Inc. has a 12-month low of $57.68 and a 12-month high of $96.38.
DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Tuesday, May 2nd. The medical device company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.06. DexCom had a negative net margin of 10.64% and a negative return on equity of 23.61%. The company had revenue of $142.30 million during the quarter, compared to the consensus estimate of $143.94 million. On average, equities analysts anticipate that DexCom, Inc. will post ($0.68) earnings per share for the current fiscal year.
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DXCM has been the subject of several research analyst reports. Cowen and Company reissued an “outperform” rating and issued a $90.00 price objective on shares of DexCom in a research report on Tuesday, April 18th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of DexCom in a research report on Wednesday, March 22nd. Canaccord Genuity reissued a “buy” rating and issued a $95.00 price objective on shares of DexCom in a research report on Friday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price objective on shares of DexCom in a research report on Tuesday, April 4th. Finally, BTIG Research lowered DexCom from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $91.81.
In other DexCom news, CEO Kevin R. Sayer sold 8,649 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $68.39, for a total transaction of $591,505.11. Following the completion of the transaction, the chief executive officer now owns 347,329 shares of the company’s stock, valued at $23,753,830.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew K. Balo sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $71.93, for a total transaction of $230,176.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,202 shares of company stock valued at $10,102,405. 2.80% of the stock is owned by insiders.
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.
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