State of New Jersey Common Pension Fund D lowered its holdings in DexCom, Inc. (NASDAQ:DXCM) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,150 shares of the medical device company’s stock after selling 2,392 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of DexCom worth $25,208,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of DXCM. Newfound Research LLC purchased a new stake in DexCom during the 3rd quarter worth about $34,000. Biltmore Capital Advisors LLC purchased a new stake in DexCom during the 3rd quarter valued at approximately $35,000. Citizens Financial Group Inc RI raised its stake in DexCom by 43.8% during the 2nd quarter. Citizens Financial Group Inc RI now owns 92 shares of the medical device company’s stock valued at $37,000 after acquiring an additional 28 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in DexCom during the 2nd quarter worth approximately $41,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in DexCom during the 2nd quarter worth approximately $55,000. 97.51% of the stock is owned by institutional investors and hedge funds.
DXCM has been the topic of several recent analyst reports. Cowen boosted their target price on DexCom from $430.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Raymond James dropped their target price on DexCom from $450.00 to $438.00 and set an “outperform” rating on the stock in a research report on Wednesday. BidaskClub upgraded DexCom from a “hold” rating to a “buy” rating in a report on Tuesday, October 20th. SVB Leerink upped their price target on DexCom from $465.00 to $485.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Oppenheimer initiated coverage on DexCom in a report on Tuesday, July 28th. They issued a “buy” rating and a $445.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. DexCom presently has a consensus rating of “Buy” and an average target price of $397.10.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Tuesday, October 27th. The medical device company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.30. DexCom had a return on equity of 29.01% and a net margin of 11.93%. On average, sell-side analysts forecast that DexCom, Inc. will post 2.66 EPS for the current fiscal year.
In related news, SVP Shelly Ramasamy Selvaraj sold 400 shares of DexCom stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $439.31, for a total value of $175,724.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jereme M. Sylvain sold 289 shares of DexCom stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $398.30, for a total value of $115,108.70. The disclosure for this sale can be found here. Insiders have sold 50,466 shares of company stock valued at $20,298,675 over the last 90 days. Insiders own 0.69% of the company’s stock.
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 offers its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.
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