Atle Fund Management AB reduced its stake in DexCom, Inc. (NASDAQ:DXCM – Free Report) by 21.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,722 shares of the medical device company’s stock after selling 11,150 shares during the quarter. Atle Fund Management AB’s holdings in DexCom were worth $2,636,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Holocene Advisors LP bought a new stake in DexCom during the third quarter worth $163,964,000. CIBC Private Wealth Group LLC lifted its stake in DexCom by 374.3% during the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock worth $195,666,000 after purchasing an additional 2,294,709 shares during the last quarter. Vanguard Group Inc. lifted its stake in DexCom by 2.3% during the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares during the last quarter. Iron Triangle Partners LP bought a new stake in DexCom during the third quarter worth $57,196,000. Finally, DNB Asset Management AS lifted its stake in DexCom by 271.8% during the third quarter. DNB Asset Management AS now owns 1,098,544 shares of the medical device company’s stock worth $73,921,000 after purchasing an additional 803,086 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.
DexCom Stock Performance
Shares of DXCM opened at $66.95 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $25.83 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40. The firm’s fifty day simple moving average is $63.33 and its two-hundred day simple moving average is $65.82. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98.
Wall Street Analyst Weigh In
DXCM has been the subject of several recent analyst reports. Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Tuesday, March 24th. Raymond James Financial set a $81.00 price target on shares of DexCom in a report on Friday, May 1st. TD Cowen lowered their price target on shares of DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 1st. Benchmark began coverage on shares of DexCom in a report on Monday, May 11th. They set a “buy” rating and a $77.00 price target for the company. Finally, Bank of America decreased their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average price target of $82.21.
Read Our Latest Stock Report on DexCom
Insider Transactions at DexCom
In related news, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the transaction, the executive vice president owned 111,204 shares of the company’s stock, valued at approximately $7,010,300.16. This trade represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their position. 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 a total of 6,112 shares of company stock worth $379,990 in the last three months. Insiders own 0.28% of the company’s stock.
DexCom News Summary
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
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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