DexCom, Inc. $DXCM Shares Purchased by Mizuho Markets Cayman LP

Mizuho Markets Cayman LP boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 71.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,093 shares of the medical device company’s stock after acquiring an additional 53,093 shares during the period. DexCom comprises 0.3% of Mizuho Markets Cayman LP’s investment portfolio, making the stock its 23rd biggest holding. Mizuho Markets Cayman LP’s holdings in DexCom were worth $8,552,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of DexCom by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares during the last quarter. Norges Bank acquired a new position in shares of DexCom during the second quarter worth $453,279,000. Groupama Asset Managment increased its holdings in DexCom by 79,043.1% in the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after buying an additional 4,011,438 shares during the last quarter. Marshall Wace LLP raised its stake in DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after buying an additional 2,762,504 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in DexCom by 82.1% in the second quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock valued at $317,137,000 after buying an additional 1,638,407 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Performance

Shares of DXCM stock opened at $66.34 on Tuesday. The stock’s 50-day moving average is $70.63 and its two-hundred day moving average is $68.28. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.25 and a beta of 1.48. 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 0.45, a quick ratio of 1.59 and a current ratio of 1.88.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. Analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DXCM. Barclays reaffirmed an “underweight” rating and set a $72.00 price objective (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Canaccord Genuity Group set a $95.00 target price on DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Evercore assumed coverage on DexCom in a report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating on shares of DexCom in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

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.