North Dakota State Investment Board purchased a new position in DexCom, Inc. (NASDAQ:DXCM – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 19,533 shares of the medical device company’s stock, valued at approximately $1,296,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of DXCM. CVA Family Office LLC lifted its holdings in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after buying an additional 147 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock worth $34,000 after buying an additional 281 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of DexCom by 113.8% in the fourth quarter. Spire Wealth Management now owns 573 shares of the medical device company’s stock worth $38,000 after buying an additional 305 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of DexCom in the fourth quarter worth about $43,000. Finally, Rothschild Investment LLC lifted its holdings in shares of DexCom by 59.9% in the third quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock worth $44,000 after buying an additional 245 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the transaction, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,112 shares of company stock worth $379,990 over the last quarter. Company insiders own 0.28% of the company’s stock.
DexCom Stock Up 2.9%
DexCom (NASDAQ:DXCM – Get Free Report) last posted its quarterly earnings data 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. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $0.32 earnings per share. DexCom’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts predict that DexCom, Inc. will post 2.56 EPS for the current fiscal year.
DexCom News Roundup
Here are the key news stories impacting DexCom this week:
- Positive Sentiment: DexCom announced Dexcom Flex in Germany, expanding CGM access to a broader Type 2 diabetes population using basal insulin, oral medications, or GLP-1 therapies. Dexcom Announces Dexcom Flex in Germany
- Positive Sentiment: Bank of America lowered its price target to $80 from $100 but kept a buy rating, which still implies upside from current levels. Benzinga report on Bank of America price target
- Neutral Sentiment: Barclays reiterated its sell rating on DexCom, adding a bearish counterpoint that may limit enthusiasm. Barclays sticks to its sell rating
- Negative Sentiment: EVP Michael Jon Brown sold 1,700 shares in a pre-arranged Rule 10b5-1 transaction, which is routine but can still weigh on sentiment when investors are watching insider activity closely. SEC Form 4 filing
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on DXCM. BTIG Research reissued a “buy” rating and issued a $85.00 price target on shares of DexCom in a report on Monday, March 9th. Benchmark initiated coverage on shares of DexCom in a research report on Monday, May 11th. They issued a “buy” rating and a $77.00 price objective on the stock. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Tuesday, March 24th. Mizuho set a $75.00 price objective on shares of DexCom in a research report on Friday, May 1st. Finally, Sanford C. Bernstein set a $77.00 price objective on shares of DexCom in a research report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $82.21.
Get Our Latest Stock Report on DXCM
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.
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