E. Ohman J or Asset Management AB Has $7.62 Million Position in DexCom, Inc. $DXCM

Key Points

• E. Ohman J or Asset Management AB increased its DexCom position by 18.9% in the second quarter, acquiring 18,012 shares for a total holding valued at approximately $7.62 million. Institutional investors collectively own 97.75% of DexCom.
• DexCom reported quarterly earnings of $0.70 per share, beating estimates of $0.61, while revenue rose 13.1% year over year to $1.31 billion. The stock opened at $87.65, near its 52-week high of $88.18.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.71. Meanwhile, insiders sold 101,494 shares worth about $7.48 million over the last quarter under pre-arranged trading plans.

E. Ohman J or Asset Management AB boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,204 shares of the medical device company's stock after buying an additional 18,012 shares during the quarter. E. Ohman J or Asset Management AB's holdings in DexCom were worth $7,624,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Paladin Wealth LLC lifted its stake in shares of DexCom by 17.4% during the second quarter. Paladin Wealth LLC now owns 9,338 shares of the medical device company's stock valued at $629,000 after acquiring an additional 1,386 shares during the period. Arista Wealth Management LLC bought a new stake in DexCom during the 2nd quarter worth about $337,000. Sax Wealth Advisors LLC raised its holdings in DexCom by 46.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 17,001 shares of the medical device company's stock worth $1,068,000 after purchasing an additional 5,364 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in DexCom by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,350 shares of the medical device company's stock valued at $966,000 after purchasing an additional 340 shares during the period. Finally, Gradient Investments LLC lifted its position in DexCom by 16.7% during the 2nd quarter. Gradient Investments LLC now owns 372,542 shares of the medical device company's stock valued at $25,091,000 after purchasing an additional 53,283 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In other DexCom news, EVP Jon Coleman sold 4,912 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares of the company's stock, valued at approximately $7,326,353. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider owned 382,482 shares of the company's stock, valued at $27,538,704. This trade represents a 6.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 101,494 shares of company stock worth $7,475,168 over the last quarter. Corporate insiders own 0.28% of the company's stock.

DexCom Stock Up 3.4%

DexCom stock opened at $87.65 on Tuesday. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.42 and a beta of 1.41. The company's 50 day simple moving average is $74.68 and its 200 day simple moving average is $69.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $88.18.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its 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. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DXCM shares. Wall Street Zen cut shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. BTIG Research restated a "buy" rating and issued a $90.00 price objective (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Truist Financial set a $93.00 price objective on shares of DexCom and gave the company a "buy" rating in a research note on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on shares of DexCom and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of DexCom from $65.00 to $82.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

DexCom Company 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.

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