DexCom, Inc. (NASDAQ:DXCM) Stock Position Increased by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its ownership in DexCom, Inc. by 2.8%, acquiring an additional 7,909 shares, bringing its total to 291,563 shares valued at approximately $19.9 million.
• Several institutional investors, including Norges Bank, Jennison Associates, and Massachusetts Financial Services Co., have made significant changes to their holdings in DexCom, contributing to 97.75% institutional ownership of the company.
• DexCom's share price was reported at $88.99 with a market cap of $34.89 billion, following a recent earnings report that showed a 12.5% increase in revenue year-over-year.

Skandinaviska Enskilda Banken AB publ grew its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 291,563 shares of the medical device company's stock after acquiring an additional 7,909 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.07% of DexCom worth $19,895,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DXCM. Golden State Wealth Management LLC raised its stake in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after acquiring an additional 264 shares during the period. Optiver Holding B.V. acquired a new stake in DexCom during the 4th quarter valued at $33,000. Heck Capital Advisors LLC acquired a new stake in DexCom during the 4th quarter valued at $38,000. Alpine Bank Wealth Management acquired a new stake in DexCom during the 1st quarter valued at $40,000. Finally, Private Trust Co. NA grew its holdings in DexCom by 99.4% during 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. Hedge funds and other institutional investors own 97.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their price target on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised shares of DexCom from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Barclays raised their price target on shares of DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of DexCom in a report on Friday, May 30th. They set a "buy" rating and a $104.00 price target for the company. Finally, Mizuho raised their price target on shares of DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $99.00.

Insider Activity

In related news, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $88.99, for a total value of $130,459.34. Following the sale, the executive vice president directly owned 106,689 shares in the company, valued at $9,494,254.11. This trade represents a 1.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of DexCom 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 sale, the director owned 56,621 shares in the company, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,656 shares of company stock valued at $2,412,191. 0.32% of the stock is owned by company insiders.

DexCom Stock Performance

Shares of DexCom stock traded up $0.34 during trading hours on Wednesday, reaching $89.69. The company's stock had a trading volume of 1,335,950 shares, compared to its average volume of 3,818,277. The company's 50 day simple moving average is $84.67 and its 200 day simple moving average is $80.56. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50. DexCom, Inc. has a one year low of $57.52 and a one year high of $93.25. The stock has a market cap of $35.17 billion, a P/E ratio of 66.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). DexCom had a return on equity of 30.05% and a net margin of 12.90%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The company's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

DexCom Company 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.