Harvest Fund Management Co. Ltd Purchases 4,400 Shares of DexCom, Inc. (NASDAQ:DXCM)

Harvest Fund Management Co. Ltd boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 16.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,707 shares of the medical device company’s stock after acquiring an additional 4,400 shares during the period. Harvest Fund Management Co. Ltd’s holdings in DexCom were worth $2,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DXCM. Golden State Wealth Management LLC raised its holdings in DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 264 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of DexCom during the 4th quarter worth approximately $33,000. Heck Capital Advisors LLC bought a new stake in shares of DexCom during the fourth quarter valued at approximately $38,000. Alpine Bank Wealth Management acquired a new position in shares of DexCom in the first quarter valued at $40,000. Finally, Private Trust Co. NA raised its stake in shares of DexCom by 99.4% in the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 335 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

NASDAQ:DXCM opened at $89.35 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50. The stock’s 50-day simple moving average is $84.67 and its 200 day simple moving average is $80.56. The company has a market cap of $35.03 billion, a P/E ratio of 66.68, a P/E/G ratio of 1.91 and a beta of 1.44. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). DexCom had a return on equity of 30.05% and a net margin of 12.90%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. DexCom’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 6,184 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the sale, the executive vice president owned 109,621 shares in the company, valued at approximately $9,329,843.31. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total transaction of $228,607.50. Following the sale, the director directly owned 56,621 shares of the company’s stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock valued at $2,412,191 over the last 90 days. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial began coverage on shares of DexCom in a report on Monday, June 16th. They set a “buy” rating and a $102.00 price objective for the company. Citigroup reissued a “buy” rating and issued a $102.00 price target (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Morgan Stanley raised their price target on shares of DexCom from $82.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Canaccord Genuity Group lifted their price objective on DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded DexCom from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.72.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.