DexCom, Inc. $DXCM Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 12.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 887,252 shares of the medical device company’s stock after selling 122,958 shares during the quarter. Bank of Nova Scotia owned 0.23% of DexCom worth $55,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in DexCom during the fourth quarter valued at $25,000. Ascentis Independent Advisors acquired a new stake in DexCom during the 1st quarter worth $25,000. CVA Family Office LLC grew its stake in DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 147 shares in the last quarter. MCF Advisors LLC purchased a new position in DexCom during the fourth quarter worth approximately $32,000. Finally, ORG Partners LLC boosted its position in shares of DexCom by 124.3% during the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 281 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DXCM shares. Deutsche Bank Aktiengesellschaft started coverage on DexCom in a report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price target for the company. UBS Group set a $95.00 target price on DexCom in a research report on Wednesday, June 10th. Piper Sandler reiterated an “overweight” rating and set a $88.00 price target (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Stifel Nicolaus set a $90.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $84.00 price objective (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.36.

DexCom Stock Up 1.5%

NASDAQ:DXCM opened at $71.54 on Friday. The stock has a 50-day simple moving average of $72.46 and a 200 day simple moving average of $68.94. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a market capitalization of $27.61 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts predict that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director directly owned 52,852 shares in the company, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the transaction, the executive vice president directly owned 95,450 shares in the company, valued at $7,075,708.50. This trade represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 71,750 shares of company stock worth $5,163,241. 0.28% of the stock is owned by company insiders.

DexCom Company Profile

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.