DexCom, Inc. (NASDAQ:DXCM) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank grew its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 67.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,295 shares of the medical device company’s stock after purchasing an additional 80,129 shares during the quarter. Toronto Dominion Bank’s holdings in DexCom were worth $22,483,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of DexCom by 59.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 73,835 shares of the medical device company’s stock worth $8,371,000 after purchasing an additional 27,559 shares in the last quarter. Marshall Wace LLP lifted its holdings in DexCom by 33.1% in the 2nd quarter. Marshall Wace LLP now owns 351,305 shares of the medical device company’s stock worth $39,831,000 after buying an additional 87,305 shares in the last quarter. Xponance Inc. boosted its position in DexCom by 2.5% in the 2nd quarter. Xponance Inc. now owns 89,460 shares of the medical device company’s stock valued at $10,143,000 after buying an additional 2,141 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of DexCom during the second quarter valued at about $31,793,000. Finally, Public Sector Pension Investment Board increased its position in shares of DexCom by 96.3% during the second quarter. Public Sector Pension Investment Board now owns 16,842 shares of the medical device company’s stock worth $1,910,000 after acquiring an additional 8,261 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

DXCM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $145.00 to $75.00 in a research note on Friday, July 26th. Redburn Atlantic assumed coverage on shares of DexCom in a research report on Thursday, May 30th. They set a “neutral” rating and a $130.00 price target for the company. Barclays dropped their price target on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research note on Monday, August 26th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $145.00 target price on shares of DexCom in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

DexCom Stock Up 1.2 %

Shares of DexCom stock opened at $67.53 on Friday. The stock has a market capitalization of $26.86 billion, a price-to-earnings ratio of 43.37, a PEG ratio of 2.16 and a beta of 1.18. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The business’s 50 day simple moving average is $75.42 and its 200-day simple moving average is $108.17.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities research analysts forecast that DexCom, Inc. will post 1.69 earnings per share for the current year.

Insider Buying and Selling

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DexCom news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value of $45,346.60. Following the transaction, the executive vice president now owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. The disclosure for this sale can be found here. Insiders have sold a total of 1,824 shares of company stock valued at $126,390 in the last quarter. Company insiders own 0.30% of the company’s stock.

DexCom Profile

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.