Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in DexCom, Inc. $DXCM

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,169,269 shares of the medical device company’s stock after acquiring an additional 26,543 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in DexCom were worth $77,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BOKF NA increased its position in shares of DexCom by 175.7% during the fourth quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock valued at $2,344,000 after acquiring an additional 22,505 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of DexCom by 2.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,234 shares of the medical device company’s stock valued at $3,334,000 after acquiring an additional 1,153 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV increased its position in shares of DexCom by 5.0% during the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 20,365 shares of the medical device company’s stock valued at $1,352,000 after acquiring an additional 965 shares during the last quarter. Alpha Wealth Funds LLC purchased a new stake in shares of DexCom during the fourth quarter valued at approximately $332,000. Finally, Principal Financial Group Inc. increased its position in shares of DexCom by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 576,517 shares of the medical device company’s stock valued at $38,263,000 after acquiring an additional 10,606 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DXCM shares. TD Cowen decreased their target price on DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Barclays set a $67.00 target price on DexCom and gave the stock an “underweight” rating in a research report on Friday, May 1st. Wall Street Zen raised DexCom from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Wells Fargo & Company decreased their target price on DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Finally, BTIG Research reissued a “buy” rating and issued a $85.00 target price on shares of DexCom in a research report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, DexCom presently has an average rating of “Moderate Buy” and an average target price of $83.50.

DexCom Stock Performance

NASDAQ:DXCM opened at $60.91 on Friday. The company has a market capitalization of $23.50 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.04 and a beta of 1.40. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The business has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $66.29.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, analysts expect that DexCom, Inc. will post 2.55 earnings per share for the current year.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the sale, the executive vice president owned 111,204 shares of the company’s stock, valued at approximately $7,010,300.16. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.28% of the company’s stock.

About DexCom

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.