Harvest Fund Management Co. Ltd Acquires 4,400 Shares of DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Harvest Fund Management Co. Ltd increased its stake in DexCom, Inc. by 16.7%, acquiring 4,400 additional shares, bringing its total holdings to 30,707 shares valued at approximately $2,095,000.
• DexCom reported earnings of $0.32 per share for the latest quarter, slightly missing analysts' estimates, while also experiencing a 12.5% year-over-year revenue growth with total revenue of $1.04 billion.
• Wall Street analysts maintain a general optimism about DexCom, with a consensus rating of "Moderate Buy" and an average price target of $98.72.

Harvest Fund Management Co. Ltd increased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,707 shares of the medical device company's stock after buying an additional 4,400 shares during the period. Harvest Fund Management Co. Ltd's holdings in DexCom were worth $2,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DXCM. Jennison Associates LLC raised its position in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after buying an additional 2,879,489 shares in the last quarter. Geode Capital Management LLC raised its position in shares of DexCom by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company's stock valued at $775,256,000 after buying an additional 56,094 shares in the last quarter. Northern Trust Corp raised its position in DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after purchasing an additional 753,857 shares during the period. Massachusetts Financial Services Co. MA raised its position in DexCom by 171.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after purchasing an additional 2,015,971 shares during the period. Finally, Federated Hermes Inc. raised its position in DexCom by 2,371.4% in the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after purchasing an additional 1,914,019 shares during the period. 97.75% of the stock is owned by institutional investors.

DexCom Stock Performance

Shares of DXCM traded down $8.29 during mid-day trading on Thursday, hitting $80.77. 9,277,495 shares of the company traded hands, compared to its average volume of 2,581,429. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50. The stock has a 50-day moving average price of $84.75 and a two-hundred day moving average price of $80.62. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 56.09, a P/E/G ratio of 1.90 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 32.05%. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 10,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the sale, the executive vice president directly owned 95,602 shares in the company, valued at $8,057,336.56. This represents a 9.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sadie Stern sold 6,184 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president owned 109,621 shares of the company's stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock valued at $2,412,191 over the last three months. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Oppenheimer lifted their target price on shares of DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler boosted their price objective on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Wall Street Zen upgraded shares of DexCom from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Truist Financial initiated coverage on shares of DexCom in a research report on Monday, June 16th. They issued a "buy" rating and a $102.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

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.