Korea Investment CORP Acquires New Shares in DexCom, Inc. $DXCM

Korea Investment CORP acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 632,639 shares of the medical device company’s stock, valued at approximately $42,608,000. Korea Investment CORP owned approximately 0.17% of DexCom as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its position in shares of DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock valued at $77,000 after buying an additional 153 shares during the period. V Square Quantitative Management LLC grew its stake in DexCom by 1.8% during the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock valued at $604,000 after acquiring an additional 172 shares in the last quarter. Essex Financial Services Inc. grew its stake in DexCom by 5.7% during the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after acquiring an additional 175 shares in the last quarter. Keel Point LLC increased its holdings in DexCom by 3.1% during the 4th quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock worth $430,000 after acquiring an additional 193 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares during the period. Institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling at DexCom

In other news, insider Kevin R. Sayer sold 26,756 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the transaction, the insider directly owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 DexCom stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. This represents a 4.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 73,035 shares of company stock valued at $5,446,673. Company insiders own 0.28% of the company’s stock.

DexCom Stock Up 2.3%

Shares of NASDAQ DXCM opened at $92.34 on Friday. The stock has a market capitalization of $34.85 billion, a P/E ratio of 36.50, a PEG ratio of 1.56 and a beta of 1.41. DexCom, Inc. has a one year low of $54.11 and a one year high of $92.56. The firm’s 50 day simple moving average is $77.49 and its two-hundred day simple moving average is $70.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $0.48 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DXCM. Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. BTIG Research restated a “buy” rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. Truist Financial set a $93.00 price target on shares of DexCom and gave the stock a “buy” rating in a report on Friday, July 31st. Argus lifted their price objective on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, William Blair raised DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

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.