Rakuten Investment Management Inc. Invests $6.50 Million in DexCom, Inc. $DXCM

Rakuten Investment Management Inc. bought a new position in DexCom, Inc. (NASDAQ:DXCM) during the second quarter, Holdings Channel reports. The fund bought 92,912 shares of the medical device company’s stock, valued at approximately $6,502,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DXCM. Reflection Asset Management purchased a new stake in shares of DexCom during the fourth quarter valued at $25,000. Ascentis Independent Advisors purchased a new position in DexCom in the 1st quarter worth about $25,000. MCF Advisors LLC purchased a new position in DexCom in the 4th quarter worth about $32,000. Wellington Grp LLC increased its stake in 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 purchasing an additional 475 shares in the last quarter. Finally, DV Equities LLC acquired a new stake in DexCom during the 4th quarter worth about $36,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total value of $170,640.00. Following the sale, the director directly owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,600 shares of company stock valued at $5,673,342 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Truist Financial set a $93.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. William Blair upgraded shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Royal Bank Of Canada raised their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Argus lifted their price objective on shares of DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

DexCom Stock Up 1.7%

DXCM stock opened at $90.82 on Friday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The company has a market cap of $34.27 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.53 and a beta of 1.41. The company has a 50 day moving average of $79.21 and a two-hundred day moving average of $71.60.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company posted $0.48 EPS. DexCom’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

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.