Mizuho Markets Americas LLC Invests $50.24 Million in DexCom, Inc. $DXCM

Mizuho Markets Americas LLC bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 800,000 shares of the medical device company’s stock, valued at approximately $50,240,000. DexCom accounts for about 1.4% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 24th biggest holding. Mizuho Markets Americas LLC owned approximately 0.21% of DexCom as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 11,946 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after purchasing an additional 196 shares during the period. Empowered Funds LLC lifted its stake in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after buying an additional 436 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after buying an additional 841 shares during the period. Finally, NewEdge Advisors LLC grew its stake in DexCom by 1.4% in the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock valued at $1,681,000 after buying an additional 258 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DXCM shares. Bank of America cut their price objective on shares of DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Mizuho upped their target price on DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Canaccord Genuity Group set a $82.00 target price on DexCom and gave the stock a “buy” rating in a research note on Monday, May 18th. Piper Sandler reissued an “overweight” rating and set a $88.00 price target (up from $75.00) on shares of DexCom in a report on Monday, June 15th. Finally, Benchmark restated a “buy” rating on shares of DexCom in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

DexCom Stock Performance

NASDAQ DXCM opened at $70.48 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $27.20 billion, a P/E ratio of 30.12, a P/E/G ratio of 1.18 and a beta of 1.45. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The firm has a 50-day moving average price of $72.26 and a two-hundred day moving average price of $68.92.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other news, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $72.00, for a total value of $1,926,432.00. Following the sale, the insider directly owned 355,726 shares in the company, valued at approximately $25,612,272. This trade represents a 7.00% 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 a total of 71,750 shares of company stock valued at $5,163,241 over the last ninety days. 0.28% of the stock is 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.