Treasurer of the State of North Carolina Acquires 23,810 Shares of DexCom, Inc. (NASDAQ:DXCM)

Treasurer of the State of North Carolina raised its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,407 shares of the medical device company's stock after purchasing an additional 23,810 shares during the period. Treasurer of the State of North Carolina owned 0.07% of DexCom worth $20,485,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in DexCom during the 4th quarter valued at approximately $385,367,000. Congress Asset Management Co. increased its position in DexCom by 5,456.9% in the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock worth $105,529,000 after purchasing an additional 1,332,522 shares during the last quarter. Fisher Funds Management LTD bought a new stake in DexCom in the fourth quarter worth $96,507,000. Jennison Associates LLC raised its holdings in DexCom by 10.3% in the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company's stock valued at $594,455,000 after acquiring an additional 710,858 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its position in DexCom by 197.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 466,414 shares of the medical device company's stock valued at $36,273,000 after acquiring an additional 309,714 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DXCM has been the subject of several research reports. Baird R W raised shares of DexCom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Redburn Atlantic raised shares of DexCom from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Mizuho initiated coverage on shares of DexCom in a report on Thursday, April 10th. They set an "outperform" rating and a $85.00 price target on the stock. Canaccord Genuity Group lifted their price target on DexCom from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Cfra Research raised DexCom to a "hold" rating in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Remove Ads

Insider Transactions at DexCom

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the sale, the executive vice president now owns 83,526 shares of the company's stock, valued at $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 2,634 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $228,920.94. Following the completion of the transaction, the chief operating officer now owns 268,644 shares in the company, valued at approximately $23,347,850.04. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,009 shares of company stock valued at $8,044,178 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

DexCom Stock Performance

NASDAQ:DXCM traded up $1.84 during mid-day trading on Tuesday, reaching $69.23. 4,613,566 shares of the stock were exchanged, compared to its average volume of 4,201,448. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The company has a 50 day simple moving average of $76.49 and a 200-day simple moving average of $76.68. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $139.24. The stock has a market capitalization of $27.15 billion, a P/E ratio of 48.41, a P/E/G ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

DexCom Profile

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.