Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in DexCom, Inc. $DXCM

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,335,411 shares of the medical device company’s stock, valued at approximately $89,940,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.35% of DexCom as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BOKF NA boosted its position in DexCom by 175.7% during the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after buying an additional 22,505 shares during the period. Stephens Investment Management Group LLC grew its holdings in DexCom by 21.1% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock worth $69,211,000 after acquiring an additional 181,701 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in DexCom in the 4th quarter valued at approximately $3,231,000. Goodman Advisory Group LLC acquired a new position in DexCom in the 4th quarter valued at approximately $1,293,000. Finally, Norges Bank bought a new position in shares of DexCom during the fourth quarter valued at $483,356,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DXCM. JPMorgan Chase & Co. lifted their price target on shares of DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company increased their price objective on DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of DexCom in a report on Friday, July 31st. Finally, Robert W. Baird set a $105.00 price target on DexCom in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Insiders Place Their Bets

In other DexCom news, insider Kevin R. Sayer sold 26,756 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the completion of the sale, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 99,794 shares of company stock valued at $7,373,321. 0.28% of the stock is currently owned by insiders.

DexCom Stock Up 0.9%

Shares of NASDAQ DXCM opened at $89.60 on Wednesday. The company’s 50 day moving average price is $76.55 and its 200-day moving average price is $70.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $91.96. The company has a market capitalization of $33.81 billion, a P/E ratio of 35.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. Equities analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current year.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.