DNB Asset Management AS boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) by 15.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,269,391 shares of the medical device company’s stock after buying an additional 170,847 shares during the quarter. DNB Asset Management AS’s holdings in DexCom were worth $84,249,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC lifted its position in shares of DexCom by 13.8% in the fourth quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock valued at $22,035,000 after acquiring an additional 40,343 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of DexCom by 118.6% in the fourth quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock valued at $16,988,000 after acquiring an additional 137,986 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of DexCom by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after acquiring an additional 21,352 shares in the last quarter. NEOS Investment Management LLC lifted its position in shares of DexCom by 58.7% in the third quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock valued at $11,842,000 after acquiring an additional 65,066 shares in the last quarter. Finally, Peterson Wealth Services lifted its position in shares of DexCom by 423.6% in the third quarter. Peterson Wealth Services now owns 28,937 shares of the medical device company’s stock valued at $1,947,000 after acquiring an additional 23,410 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on DXCM shares. Evercore upgraded 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. Robert W. Baird set a $80.00 price objective on DexCom in a research report on Friday, May 1st. Mizuho set a $75.00 target price on DexCom in a research note on Friday, May 1st. Raymond James Financial set a $81.00 target price on DexCom in a research note on Friday, May 1st. Finally, TD Cowen dropped their target price on DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and a consensus price target of $83.22.
DexCom Stock Performance
DexCom stock opened at $61.63 on Friday. The firm has a market capitalization of $23.78 billion, a P/E ratio of 26.34, a PEG ratio of 1.00 and a beta of 1.40. The stock has a fifty day moving average price of $63.46 and a 200 day moving average price of $65.89. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.
DexCom (NASDAQ:DXCM – Get Free Report) last released its earnings results 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.32 earnings per share. Equities research analysts anticipate that DexCom, Inc. will post 2.56 earnings per share for the current year.
Key DexCom News
Here are the key news stories impacting DexCom this week:
- Positive Sentiment: DexCom outlined a 2030 growth plan calling for at least 10% annual revenue growth through 2030, along with margin targets that suggest improving profitability over time. Diabetes Tech Player DexCom Lays Out 2030 Growth Vision
- Positive Sentiment: The company authorized a new $1 billion share buyback, which can support the stock by signaling confidence in future cash flow and returning capital to shareholders. Diabetes Tech Player DexCom Lays Out 2030 Growth Vision
- Positive Sentiment: Management also highlighted next-generation products, including the G8 glucose sensor and dual-analyte sensing, which could expand DexCom’s competitive position and addressable market. Dexcom to add 2 board directors with activist investor Elliott
- Positive Sentiment: DexCom and Elliott Investment Management agreed to add two independent directors to the board and revise governance, a move that may improve oversight and strategic execution. Dexcom to appoint two directors, revamp board committee with Elliott
- Neutral Sentiment: Wall Street sentiment remains constructive overall, with a “Moderate Buy” consensus and an average price target above recent trading levels, though there are still some hold and underweight ratings in the mix. Are Wall Street analysts bullish on DexCom’s stock?
- Negative Sentiment: Director Bridgette Heller sold 1,012 shares, but the transaction was small and was made under a pre-arranged trading plan, so it is less likely to be a major negative signal. Bridgette Heller Sells 1,012 Shares of DexCom (NASDAQ:DXCM) Stock
Insider Activity
In other DexCom news, 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 sale, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the sale, the director owned 25,007 shares of the company’s stock, valued at $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,412 shares of company stock valued at $278,143 over the last 90 days. 0.28% of the stock is currently owned by insiders.
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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