6,377 Shares in DexCom, Inc. (NASDAQ:DXCM) Purchased by Focus Partners Wealth

Focus Partners Wealth acquired a new position in DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,377 shares of the medical device company’s stock, valued at approximately $496,000.

A number of other large investors have also modified their holdings of DXCM. Norges Bank acquired a new stake in shares of DexCom in the 4th quarter worth about $385,367,000. Congress Asset Management Co. increased its holdings in shares of DexCom by 5,456.9% in the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after acquiring an additional 1,332,522 shares during the period. Fisher Funds Management LTD acquired a new stake in shares of DexCom in the 4th quarter worth about $96,507,000. Northern Trust Corp increased its holdings in shares of DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock worth $322,454,000 after acquiring an additional 753,857 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of DexCom by 10.3% in the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock worth $594,455,000 after acquiring an additional 710,858 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler lowered their target price on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Canaccord Genuity Group raised their target price on shares of DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Citigroup raised their target price on shares of DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Cfra Research raised shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Finally, Robert W. Baird lowered their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.11.

DexCom Stock Performance

Shares of DXCM opened at $87.34 on Wednesday. DexCom, Inc. has a one year low of $57.52 and a one year high of $131.76. The company has a 50-day moving average of $72.71 and a two-hundred day moving average of $77.87. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 2.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jacob Steven Leach sold 14,076 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $990,668.88. Following the completion of the sale, the chief operating officer now directly owns 313,497 shares in the company, valued at approximately $22,063,918.86. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the sale, the executive vice president now owns 135,482 shares of the company’s stock, valued at approximately $10,002,636.06. This represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,926 shares of company stock worth $4,734,384 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

DexCom Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.