Mufg Securities Americas Inc. Makes New Investment in DexCom, Inc. (NASDAQ:DXCM)

Mufg Securities Americas Inc. bought a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,767 shares of the medical device company's stock, valued at approximately $448,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in DexCom during the 4th quarter valued at approximately $385,367,000. Congress Asset Management Co. grew its stake in shares of DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock worth $105,529,000 after acquiring an additional 1,332,522 shares during the last quarter. Fisher Funds Management LTD acquired a new position in DexCom in the fourth quarter valued at approximately $96,507,000. 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. Finally, Jennison Associates LLC raised its stake in shares of DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company's stock worth $594,455,000 after buying an additional 710,858 shares during the period. Institutional investors own 97.75% of the company's stock.

Insider Buying and Selling

In other news, CEO Kevin R. Sayer sold 32,498 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the completion of the transaction, the chief executive officer now directly owns 372,029 shares in the company, valued at approximately $26,183,401.02. This represents a 8.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jacob Steven Leach sold 14,076 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the sale, the chief operating officer now owns 313,497 shares in the company, valued at approximately $22,063,918.86. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,926 shares of company stock worth $4,734,384 in the last 90 days. Insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on DXCM. Redburn Atlantic raised DexCom from a "neutral" rating to a "buy" rating and increased their price target for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Canaccord Genuity Group boosted their price target on DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Piper Sandler cut their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a research note on Saturday, March 8th. Finally, Mizuho began coverage on DexCom in a report on Thursday, April 10th. They issued an "outperform" rating and a $85.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, DexCom has an average rating of "Moderate Buy" and an average target price of $98.11.

DexCom Stock Performance

DexCom stock traded up $1.48 during midday trading on Monday, reaching $86.96. 2,366,347 shares of the company traded hands, compared to its average volume of 4,356,666. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $132.09. The firm has a market capitalization of $34.10 billion, a price-to-earnings ratio of 60.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The business has a 50 day moving average of $72.01 and a two-hundred day moving average of $77.69.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. DexCom's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. As a group, research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

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.