Alken Asset Management Ltd Buys New Position in DexCom, Inc. (NASDAQ:DXCM)

Alken Asset Management Ltd purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the medical device company’s stock, valued at approximately $670,000. DexCom comprises about 1.3% of Alken Asset Management Ltd’s holdings, making the stock its 27th biggest holding.

Several other large investors have also bought and sold shares of DXCM. Canada Pension Plan Investment Board lifted its position in shares of DexCom by 189.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in DexCom by 16.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after acquiring an additional 353,019 shares during the period. Bellevue Group AG lifted its holdings in DexCom by 33.5% during the first quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock worth $169,380,000 after acquiring an additional 306,604 shares during the period. Magnetar Financial LLC purchased a new position in DexCom in the second quarter worth $31,793,000. Finally, Dimensional Fund Advisors LP increased its position in shares of DexCom by 41.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 919,650 shares of the medical device company’s stock valued at $104,282,000 after purchasing an additional 268,802 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $69.21 on Monday. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The stock has a market cap of $27.52 billion, a P/E ratio of 44.65, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a 50 day moving average of $70.17 and a 200 day moving average of $102.36.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that DexCom, Inc. will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the sale, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the transaction, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,824 shares of company stock valued at $126,390 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DXCM. Piper Sandler reiterated an “overweight” rating and set a $90.00 target price on shares of DexCom in a research note on Monday, August 26th. Morgan Stanley dropped their target price on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. UBS Group decreased their price target on shares of DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 26th. BTIG Research dropped their price objective on DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $110.69.

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.