Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in DexCom, Inc. by 8.7%, owning approximately 988,778 shares worth $67.5 million as of the recent quarter.
• A range of hedge funds, including Golden State Wealth Management and Stonebridge Financial Group, have increased their positions in DexCom significantly, indicating growing institutional confidence in the company.
• Analysts have raised target prices for DexCom's stock, with Barclays setting a new target at $98.00 and UBS at $106.00, reflecting a positive outlook for the company's performance moving forward.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 988,778 shares of the medical device company's stock after purchasing an additional 79,194 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of DexCom worth $67,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Golden State Wealth Management LLC lifted its position in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after purchasing an additional 264 shares during the period. Optiver Holding B.V. purchased a new stake in shares of DexCom during the 4th quarter worth about $33,000. Heck Capital Advisors LLC purchased a new position in shares of DexCom in the 4th quarter valued at about $38,000. Alpine Bank Wealth Management purchased a new position in shares of DexCom in the 1st quarter valued at about $40,000. Finally, Private Trust Co. NA increased its stake in shares of DexCom by 99.4% in the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after purchasing an additional 335 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Mizuho lifted their price target on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on shares of DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 price target for the company. Citigroup restated a "buy" rating and set a $102.00 price target (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Robert W. Baird reduced their price target on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Oppenheimer upped their price target on shares of DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, DexCom currently has an average rating of "Moderate Buy" and an average price target of $99.89.

DexCom Trading Up 3.0%

Shares of DXCM stock traded up $2.32 during trading on Tuesday, hitting $80.17. 3,599,365 shares of the stock traded hands, compared to its average volume of 3,917,946. The firm has a market capitalization of $31.44 billion, a P/E ratio of 55.67, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The firm's fifty day moving average price is $83.53 and its 200-day moving average price is $80.20. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $41,400.00. Following the sale, the executive vice president owned 95,102 shares of the company's stock, valued at $7,874,445.60. The trade was a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Augustinos sold 3,672 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the sale, the director directly owned 33,411 shares in the company, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,656 shares of company stock worth $2,412,191 in the last ninety days. 0.32% of the stock is owned by company insiders.

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.