Handelsbanken Fonder AB Sells 7,441 Shares of DexCom, Inc. $DXCM

Handelsbanken Fonder AB lowered its stake in DexCom, Inc. (NASDAQ:DXCM) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 262,070 shares of the medical device company’s stock after selling 7,441 shares during the quarter. Handelsbanken Fonder AB’s holdings in DexCom were worth $17,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Reflection Asset Management bought a new stake in shares of DexCom in the fourth quarter worth about $25,000. Ascentis Independent Advisors bought a new position in DexCom during the first quarter valued at approximately $25,000. MCF Advisors LLC bought a new position in DexCom during the fourth quarter valued at approximately $32,000. Wellington Grp LLC grew its holdings in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after buying an additional 475 shares in the last quarter. Finally, DV Equities LLC bought a new stake in DexCom in the 4th quarter worth approximately $36,000. Institutional investors own 97.75% of the company’s stock.

Insider Activity

In other news, EVP Jon Coleman sold 4,912 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the sale, the executive vice president owned 100,361 shares in the company, valued at approximately $7,326,353. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares in the company, valued at $8,034,969.15. The trade was 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. Insiders sold 101,494 shares of company stock valued at $7,475,168 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

DexCom Trading Up 1.4%

Shares of DXCM stock opened at $90.80 on Thursday. The company has a market cap of $34.26 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.41. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $91.04. The stock’s 50 day simple moving average is $75.36 and its two-hundred day simple moving average is $70.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Research analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial set a $93.00 price objective on DexCom and gave the stock a “buy” rating in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Monday, August 3rd. Stifel Nicolaus set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

DexCom Company 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.