Monetta Financial Services Inc. Invests $683,000 in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Monetta Financial Services Inc. has acquired 10,000 shares of DexCom, Inc., valued at approximately $683,000, highlighting significant institutional interest in the medical device company.
• Notable hedge fund activity includes Golden State Wealth Management boosting its holdings by 211.2% and Stonebridge Financial Group increasing its position by 944.5% in the first quarter.
• Several equity analysts have raised their target prices for DexCom, with Raymond James increasing its target from $99 to $102, indicating strong optimism among market analysts.

Monetta Financial Services Inc. acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the medical device company's stock, valued at approximately $683,000.

Several other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in shares of DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after buying an additional 264 shares during the period. Private Trust Co. NA lifted its stake in shares of DexCom by 99.4% during the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after buying an additional 335 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of DexCom by 29.3% during the first quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock worth $209,000 after buying an additional 702 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of DexCom by 34.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock worth $357,000 after buying an additional 1,333 shares during the period. Finally, Stonebridge Financial Group LLC lifted its stake in shares of DexCom by 944.5% during the first quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock worth $220,000 after buying an additional 2,909 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

Shares of DXCM stock traded up $2.46 on Friday, reaching $78.86. 3,865,353 shares of the company were exchanged, compared to its average volume of 3,611,153. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 54.76, a P/E/G ratio of 1.60 and a beta of 1.43. The business has a 50-day moving average price of $83.68 and a 200 day moving average price of $80.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25.

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

Insider Buying and Selling

In other news, EVP Michael Jon Brown sold 500 shares of the company'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 completion of the sale, the executive vice president directly owned 95,102 shares in the company, valued at $7,874,445.60. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total transaction of $228,607.50. Following the completion of the transaction, the director owned 56,621 shares in the company, valued at $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,656 shares of company stock valued at $2,412,191 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of DexCom from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Truist Financial began coverage on shares of DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Barclays raised their target price on shares of DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of DexCom in a report on Friday, May 30th. They set a "buy" rating and a $104.00 target price for the company. Finally, Robert W. Baird reduced their target price on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average 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.