Daiichi Life Insurance Co. Ltd. Purchases New Position in DexCom, Inc. $DXCM

Daiichi Life Insurance Co. Ltd. bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,244 shares of the medical device company’s stock, valued at approximately $892,000.

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

DexCom Price Performance

Shares of DexCom stock opened at $91.06 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $34.36 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 1.56 and a beta of 1.41. The business’s 50-day moving average price is $77.83 and its 200-day moving average price is $71.07. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59.

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

Insider Buying and Selling

In other news, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the transaction, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $85.32, for a total transaction of $170,640.00. Following the transaction, the director directly owned 48,852 shares of the company’s stock, valued at approximately $4,168,052.64. This trade represents a 3.93% 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. In the last three months, insiders sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DXCM shares. Canaccord Genuity Group set a $90.00 price target on shares of DexCom and gave the stock a “buy” rating in a report on Monday, August 3rd. TD Cowen reiterated a “buy” rating on shares of DexCom in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Bank of America reduced their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Mizuho boosted their price target on shares of DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.71.

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.