Legal & General Group Plc Raises Stock Holdings in DexCom, Inc. $DXCM

Legal & General Group Plc boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 4.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,635,700 shares of the medical device company’s stock after acquiring an additional 117,493 shares during the quarter. Legal & General Group Plc’s holdings in DexCom were worth $177,356,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in DexCom in the 2nd quarter worth $453,279,000. Groupama Asset Managment raised its stake in shares of DexCom by 79,043.1% during the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after acquiring an additional 4,011,438 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of DexCom by 106.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock valued at $576,610,000 after acquiring an additional 3,410,858 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of DexCom by 260.7% during the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after purchasing an additional 2,762,504 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of DexCom by 82.1% during the second quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock worth $317,137,000 after purchasing an additional 1,638,407 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

DexCom stock opened at $65.26 on Friday. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The stock’s 50 day simple moving average is $70.71 and its two-hundred day simple moving average is $68.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The stock has a market cap of $25.12 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 1.29 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DXCM shares. Mizuho boosted their price target on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Canaccord Genuity Group set a $95.00 price objective on DexCom and gave the stock a “buy” rating in a report on Friday, February 13th. Wells Fargo & Company cut their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Barclays reiterated an “underweight” rating and issued a $72.00 price objective (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Finally, Wall Street Zen cut DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

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.