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

Bank of Nova Scotia trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 504,913 shares of the medical device company’s stock after selling 25,742 shares during the quarter. Bank of Nova Scotia owned approximately 0.13% of DexCom worth $33,975,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of DexCom in the 2nd quarter valued at about $453,279,000. Groupama Asset Managment increased its holdings 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 during the last quarter. Marshall Wace LLP increased its holdings in DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after buying an additional 2,762,504 shares during the last quarter. Federated Hermes Inc. raised its stake in DexCom by 82.1% during the second quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company’s stock valued at $317,137,000 after buying an additional 1,638,407 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in DexCom by 2.3% during the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after buying an additional 1,133,638 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Trading Up 3.3%

DexCom stock opened at $66.34 on Tuesday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $25.53 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.25 and a beta of 1.48. The firm has a 50-day moving average price of $70.63 and a two-hundred day moving average price of $68.28.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on DXCM shares. Evercore began coverage on DexCom in a research report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 target price for the company. Mizuho upped their price target on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. BTIG Research reaffirmed a “buy” rating and issued a $85.00 price objective on shares of DexCom in a report on Monday, March 9th. Wells Fargo & Company lowered their target price on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Truist Financial reissued a “buy” rating and set a $80.00 target price (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.50.

DexCom 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.