ProShare Advisors LLC lifted its holdings in DexCom, Inc. (NASDAQ:DXCM – Free Report) by 38.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 684,608 shares of the medical device company’s stock after buying an additional 190,461 shares during the period. ProShare Advisors LLC’s holdings in DexCom were worth $45,437,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after purchasing an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after purchasing an additional 196 shares during the last quarter. Empowered Funds LLC increased its position in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after purchasing an additional 436 shares during the last quarter. Focus Partners Wealth increased its position in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after purchasing an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock valued at $1,681,000 after purchasing an additional 258 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.
Insider Transactions at DexCom
In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. This represents a 3.89% decrease in their position. 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 company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the completion of the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. This represents 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 sold a total of 6,112 shares of company stock worth $379,990 over the last 90 days. Insiders own 0.28% of the company’s stock.
DexCom Stock Performance
DexCom (NASDAQ:DXCM – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.DexCom’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. As a group, analysts expect that DexCom, Inc. will post 2.56 earnings per share for the current year.
Key Stories Impacting DexCom
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
DXCM has been the topic of several analyst reports. Sanford C. Bernstein set a $77.00 target price on DexCom in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating and set a $79.00 price target (down from $84.00) on shares of DexCom in a report on Monday, May 4th. Piper Sandler reiterated an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Monday. Finally, Mizuho set a $75.00 price target on shares of DexCom in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.
Check Out Our Latest Stock Analysis on DexCom
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.
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