Bank of Nova Scotia Has $55.72 Million Stock Holdings in DexCom, Inc. $DXCM

Bank of Nova Scotia cut its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 12.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887,252 shares of the medical device company’s stock after selling 122,958 shares during the period. Bank of Nova Scotia’s holdings in DexCom were worth $55,719,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Reflection Asset Management bought a new position in shares of DexCom in the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new position in shares of DexCom during the first quarter valued at about $25,000. CVA Family Office LLC lifted its position in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after acquiring an additional 147 shares during the period. MCF Advisors LLC bought a new stake in DexCom in the 4th quarter valued at $32,000. Finally, ORG Partners LLC increased its stake in DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 281 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Performance

Shares of DexCom stock opened at $71.54 on Friday. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company’s 50 day moving average price is $72.46 and its two-hundred day moving average price is $68.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The firm has a market capitalization of $27.61 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.16 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. On average, equities analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on DXCM shares. Benchmark reissued a “buy” rating on shares of DexCom in a report on Tuesday, June 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $91.00 price target on shares of DexCom in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. Bank of America reduced their price objective on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Piper Sandler reissued an “overweight” rating and issued a $88.00 target price (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.36.

Insider Buying and Selling at DexCom

In other news, EVP Jon Coleman sold 4,911 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the transaction, the executive vice president owned 95,450 shares in the company, valued at approximately $7,075,708.50. The trade was a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 71,750 shares of company stock worth $5,163,241. Company insiders own 0.28% of the company’s stock.

About DexCom

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.