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

Handelsbanken Fonder AB lowered its holdings in DexCom, Inc. (NASDAQ:DXCM) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,070 shares of the medical device company’s stock after selling 7,441 shares during the quarter. Handelsbanken Fonder AB owned 0.07% of DexCom worth $17,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 DexCom during the 1st quarter valued at about $25,000. MCF Advisors LLC bought a new position in DexCom during the 4th quarter valued at about $32,000. Wellington Grp LLC boosted its holdings in shares of 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 acquiring an additional 475 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in shares of DexCom during the 4th quarter valued at about $36,000. 97.75% of the stock is owned by institutional investors.

DexCom Stock Up 1.4%

DXCM stock opened at $90.80 on Thursday. The business’s 50-day moving average price is $75.36 and its 200-day moving average price is $70.09. The stock has a market cap of $34.26 billion, a P/E ratio of 35.89, a PEG ratio of 1.51 and a beta of 1.41. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $91.04.

DexCom (NASDAQ:DXCM) last released 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 company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. On average, equities research analysts forecast that DexCom, Inc. will post 2.64 EPS for the current year.

Insider Activity

In related news, EVP Jon Coleman sold 4,912 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. This represents a 4.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 101,494 shares of company stock worth $7,475,168 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DXCM shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of DexCom in a report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $88.00 target price (up from $84.00) on shares of DexCom in a research report on Friday, July 31st. Weiss Ratings lowered shares of DexCom from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Raymond James Financial restated a “strong-buy” rating and issued a $94.00 price target on shares of DexCom in a research note on Friday, July 31st. Finally, Sanford C. Bernstein set a $77.00 price objective on DexCom in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and a consensus price target 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.