MFG Wealth Management Inc. Acquires 6,987 Shares of DexCom, Inc. (NASDAQ:DXCM)

MFG Wealth Management Inc. lifted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 34.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,226 shares of the medical device company’s stock after purchasing an additional 6,987 shares during the quarter. DexCom makes up about 1.8% of MFG Wealth Management Inc.’s holdings, making the stock its 27th biggest position. MFG Wealth Management Inc.’s holdings in DexCom were worth $1,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DXCM. Private Trust Co. NA lifted its position in shares of DexCom by 266.3% in the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock worth $26,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 264 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of DexCom in the 4th quarter valued at approximately $33,000. TD Private Client Wealth LLC boosted its position in DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after purchasing an additional 167 shares during the period. Finally, Larson Financial Group LLC boosted its position in DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after purchasing an additional 137 shares during the period. Institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DXCM shares. Citigroup restated a “buy” rating and issued a $102.00 price objective (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Wall Street Zen upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Truist Financial initiated coverage on shares of DexCom in a research report on Monday, June 16th. They set a “buy” rating and a $102.00 target price for the company. Piper Sandler cut their price target on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Finally, Barclays upped their price objective on shares of DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $98.50.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 500 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $41,400.00. Following the sale, the executive vice president now directly owns 95,102 shares of the company’s stock, valued at approximately $7,874,445.60. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 6,184 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 109,621 shares of the company’s stock, valued at $9,329,843.31. This represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,724 shares of company stock valued at $2,157,034. 0.32% of the stock is currently owned by insiders.

DexCom Stock Performance

NASDAQ:DXCM opened at $84.68 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a market cap of $33.20 billion, a P/E ratio of 63.19, a PEG ratio of 1.87 and a beta of 1.46. The stock has a 50 day simple moving average of $81.02 and a 200 day simple moving average of $79.50. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $117.19.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. Research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share 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.