Legal & General Group Plc Raises Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Legal & General Group Plc grew its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,993,049 shares of the medical device company’s stock after purchasing an additional 49,076 shares during the period. Legal & General Group Plc’s holdings in DexCom were worth $339,352,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp boosted its position in DexCom by 10.0% during the second quarter. Mackenzie Financial Corp now owns 821,192 shares of the medical device company’s stock worth $93,107,000 after purchasing an additional 74,473 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of DexCom by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 289,824 shares of the medical device company’s stock worth $32,860,000 after buying an additional 1,998 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of DexCom during the 2nd quarter worth $1,889,000. MBB Public Markets I LLC purchased a new stake in shares of DexCom in the 2nd quarter worth about $3,151,000. Finally, APG Asset Management N.V. grew its stake in DexCom by 5.9% in the 2nd quarter. APG Asset Management N.V. now owns 309,500 shares of the medical device company’s stock valued at $32,742,000 after acquiring an additional 17,302 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DXCM shares. Baird R W cut shares of DexCom from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. StockNews.com upgraded DexCom from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $145.00 target price on shares of DexCom in a report on Tuesday, July 23rd. Morgan Stanley cut their price target on DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Finally, Wells Fargo & Company reduced their price objective on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.25.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the transaction, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,824 shares of company stock valued at $126,390. Company insiders own 0.30% of the company’s stock.

DexCom Trading Down 0.4 %

Shares of DXCM stock opened at $67.29 on Friday. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00. The firm’s 50-day simple moving average is $73.66 and its 200-day simple moving average is $107.43. The firm has a market cap of $26.76 billion, a P/E ratio of 43.41, a PEG ratio of 2.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48.

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

About DexCom

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.