Mackenzie Financial Corp Acquires 74,473 Shares of DexCom, Inc. (NASDAQ:DXCM)

Mackenzie Financial Corp lifted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 10.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 821,192 shares of the medical device company’s stock after acquiring an additional 74,473 shares during the quarter. Mackenzie Financial Corp’s holdings in DexCom were worth $93,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in DexCom in the second quarter worth about $25,000. Sachetta LLC grew its holdings in shares of DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Crewe Advisors LLC purchased a new position in shares of DexCom in the 1st quarter valued at approximately $29,000. Riverview Trust Co bought a new stake in shares of DexCom during the first quarter valued at approximately $32,000. Finally, DT Investment Partners LLC raised its holdings in DexCom by 492.2% in the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock worth $43,000 after purchasing an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

DXCM stock opened at $67.29 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a market cap of $26.76 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. The stock’s fifty day moving average price is $74.55 and its 200-day moving average price is $107.88.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $145.00 target price on shares of DexCom in a research note on Tuesday, July 23rd. Barclays dropped their price target on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Oppenheimer lowered their price objective on DexCom from $150.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com raised DexCom from a “hold” rating to a “buy” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 652 shares of the 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 transaction, the executive vice president now directly owns 66,249 shares in the company, valued at $4,607,617.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 transaction of $45,346.60. Following the completion of the transaction, the executive vice president now directly owns 66,249 shares in the company, valued at approximately $4,607,617.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares in the company, valued at approximately $5,217,436.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,824 shares of company stock worth $126,390. 0.30% of the stock is owned by company insiders.

DexCom Company Profile

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.