OVERSEA CHINESE BANKING Corp Ltd Grows Stake in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd significantly increased its stake in DexCom, acquiring an additional 39,688 shares, bringing its total ownership to 46,543 shares valued at approximately $3.18 million.
• DexCom's recent earnings report revealed a profit of $0.48 EPS for the quarter, surpassing expectations and indicating a 15.2% revenue growth compared to the prior year.
• Analysts are optimistic about DexCom, with many issuing "buy" ratings and raising target prices, suggesting a consensus price target of approximately $99.89.

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 579.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,543 shares of the medical device company's stock after acquiring an additional 39,688 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in DexCom were worth $3,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DXCM. Jennison Associates LLC increased its position in DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after purchasing an additional 2,879,489 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of DexCom by 171.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after buying an additional 2,015,971 shares in the last quarter. Federated Hermes Inc. grew its holdings in DexCom by 2,371.4% during the first quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after acquiring an additional 1,914,019 shares during the period. Woodline Partners LP purchased a new position in DexCom in the fourth quarter worth $63,338,000. Finally, Northern Trust Corp lifted its holdings in DexCom by 22.2% in the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after acquiring an additional 753,857 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction that occurred on 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 sale, the director owned 56,621 shares of the company's stock, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $84.28, for a total transaction of $842,800.00. Following the completion of the transaction, the executive vice president owned 95,602 shares in the company, valued at $8,057,336.56. The trade was a 9.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock worth $2,412,191 over the last ninety days. 0.32% of the stock is owned by insiders.

DexCom Trading Up 0.1%

Shares of NASDAQ DXCM traded up $0.10 on Thursday, reaching $76.50. 515,097 shares of the company traded hands, compared to its average volume of 3,901,368. The stock has a market capitalization of $30.00 billion, a PE ratio of 53.03, a P/E/G ratio of 1.58 and a beta of 1.43. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $93.25. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $84.21 and a 200 day moving average of $80.50.

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

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of research analyst reports. Wall Street Zen raised shares of DexCom from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. UBS Group upped their price target on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Mizuho lifted their price objective on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. Finally, Barclays lifted their price target on DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Four investment 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. Based on data from MarketBeat.com, DexCom has a consensus rating of "Buy" and an average target price of $99.89.

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.