DexCom, Inc. $DXCM Shares Sold by 2Xideas AG

2Xideas AG lowered its stake in DexCom, Inc. (NASDAQ:DXCM) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,199 shares of the medical device company’s stock after selling 8,900 shares during the period. DexCom comprises 1.9% of 2Xideas AG’s investment portfolio, making the stock its 14th biggest position. 2Xideas AG’s holdings in DexCom were worth $9,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after acquiring an additional 1,133,638 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DexCom by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after purchasing an additional 358,617 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of DexCom by 106.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after purchasing an additional 3,410,858 shares during the last quarter. Norges Bank purchased a new position in DexCom in the second quarter valued at $453,279,000. Finally, Groupama Asset Managment raised its stake in DexCom by 79,043.1% in the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after buying an additional 4,011,438 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

NASDAQ DXCM opened at $64.24 on Friday. The stock has a market capitalization of $24.72 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.27 and a beta of 1.48. The business’s 50 day moving average is $70.66 and its two-hundred day moving average is $68.45. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. Research analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DXCM shares. Evercore began coverage on DexCom in a research report on Tuesday, November 25th. They set an “in-line” rating and a $68.00 price objective for the company. Barclays restated an “underweight” rating and set a $72.00 target price (up from $71.00) on shares of DexCom in a research note on Friday, February 13th. Wells Fargo & Company dropped their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Piper Sandler reissued an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Finally, Canaccord Genuity Group set a $95.00 price objective on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.50.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.