PKO Investment Management Joint Stock Co Grows Stock Position in DexCom, Inc. (NASDAQ:DXCM)

PKO Investment Management Joint Stock Co boosted its holdings in DexCom, Inc. (NASDAQ:DXCM) by 89.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,000 shares of the medical device company’s stock after acquiring an additional 43,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in DexCom were worth $6,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DXCM. Cardinal Capital Management grew its position in shares of DexCom by 2.4% in the first quarter. Cardinal Capital Management now owns 45,569 shares of the medical device company’s stock valued at $3,112,000 after purchasing an additional 1,086 shares during the last quarter. Chicago Capital LLC raised its position in shares of DexCom by 75.0% during the 1st quarter. Chicago Capital LLC now owns 885,532 shares of the medical device company’s stock worth $60,473,000 after purchasing an additional 379,586 shares during the last quarter. Inscription Capital LLC purchased a new stake in DexCom in the 1st quarter valued at approximately $137,000. Grimes & Company Inc. acquired a new stake in DexCom during the 1st quarter valued at $9,215,000. Finally, QRG Capital Management Inc. grew its holdings in DexCom by 26.2% during the 1st quarter. QRG Capital Management Inc. now owns 22,749 shares of the medical device company’s stock valued at $1,554,000 after buying an additional 4,716 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DexCom news, EVP Sadie Stern sold 6,184 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the transaction, the executive vice president now owns 109,621 shares in the company, valued at $9,329,843.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the sale, the executive vice president now owns 95,602 shares of the company’s stock, valued at $8,057,336.56. This represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DXCM. Wall Street Zen upgraded DexCom from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Canaccord Genuity Group boosted their price objective on shares of DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Cfra Research raised shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Piper Sandler lowered their target price on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Finally, Robert W. Baird cut their price target on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.50.

DexCom Trading Up 1.2%

Shares of DXCM stock opened at $83.00 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $117.91. The firm’s 50 day moving average price is $78.95 and its two-hundred day moving average price is $79.36. The stock has a market cap of $32.54 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of 2.30 and a beta of 1.46.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned $0.32 EPS. DexCom’s quarterly revenue was up 12.5% on a year-over-year basis. On average, analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.