1,335,411 Shares in DexCom, Inc. $DXCM Bought by Mitsubishi UFJ Asset Management Co. Ltd.

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of DXCM. Reflection Asset Management acquired a new position in shares of DexCom during the fourth quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in shares of DexCom in the 1st quarter valued at about $25,000. MCF Advisors LLC bought a new stake in DexCom in the 4th quarter valued at about $32,000. Wellington Grp LLC increased its position in DexCom by 778.7% in 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 acquired a new position in DexCom during the 4th quarter worth approximately $36,000. 97.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DXCM has been the topic of several recent research reports. Truist Financial set a $93.00 price target on DexCom and gave the stock a “buy” rating in a report on Friday, July 31st. Benchmark upped their target price on DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. BTIG Research reiterated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a report on Friday, July 31st. TD Cowen reissued a “buy” rating on shares of DexCom in a research report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Two investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.71.

DexCom Stock Up 0.9%

DXCM opened at $89.60 on Wednesday. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $91.96. The firm has a market capitalization of $33.81 billion, a P/E ratio of 35.42, a PEG ratio of 1.51 and a beta of 1.41. The company’s 50-day moving average is $76.55 and its 200 day moving average is $70.56. 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 issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. Research analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kevin R. Sayer sold 26,759 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the transaction, the insider directly owned 382,482 shares of the company’s stock, valued at $27,538,704. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director owned 52,852 shares in the company, valued at $3,917,918.76. This trade represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 99,794 shares of company stock worth $7,373,321 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

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.