Harbor Capital Advisors Inc. Acquires 1,812 Shares of DexCom, Inc. (NASDAQ:DXCM)

Harbor Capital Advisors Inc. lifted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 13.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,702 shares of the medical device company’s stock after purchasing an additional 1,812 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in DexCom were worth $1,780,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors increased its stake in DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after acquiring an additional 5,256,092 shares during the last quarter. Norges Bank bought a new position in DexCom in the fourth quarter valued at approximately $540,178,000. Artisan Partners Limited Partnership increased its stake in DexCom by 164.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after acquiring an additional 3,672,471 shares during the last quarter. Capital Research Global Investors boosted its position in DexCom by 21.4% in the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after buying an additional 2,695,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in DexCom in the fourth quarter valued at approximately $231,773,000. 97.75% of the stock is owned by institutional investors.

Insider Transactions at DexCom

In other news, 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 value of $45,346.60. Following the transaction, the executive vice president now owns 66,249 shares in the company, valued at approximately $4,607,617.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the transaction, the director now owns 25,349 shares in the company, valued at $2,878,378.95. The transaction 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 company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total value of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares in the company, valued at approximately $4,607,617.95. The disclosure for this sale can be found here. Insiders have sold 4,135 shares of company stock worth $446,797 in the last 90 days. Insiders own 0.30% of the company’s stock.

DexCom Stock Down 7.5 %

DXCM traded down $5.64 during midday trading on Wednesday, hitting $69.61. The company had a trading volume of 6,573,233 shares, compared to its average volume of 3,701,856. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 2.18 and a beta of 1.16. The stock’s 50 day moving average price is $107.19 and its 200 day moving average price is $121.03.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that DexCom, Inc. will post 1.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays cut their target price on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Robert W. Baird raised their target price on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday. Piper Sandler cut their target price on shares of DexCom from $150.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Raymond James raised their target price on shares of DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada cut their target price on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.63.

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.