78,000 Shares in DexCom, Inc. $DXCM Purchased by AIA Group Ltd

Key Points

• AIA Group Ltd disclosed a new first-quarter stake in DexCom, buying 78,000 shares worth about $4.9 million.
• DexCom remains heavily owned by institutions, with several large funds recently increasing positions and 97.75% of the stock held by institutional investors and hedge funds.
• Analysts are generally constructive on DXCM, with an average Moderate Buy rating and a consensus price target of $85.36, while the company also recently topped earnings expectations.

AIA Group Ltd bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 78,000 shares of the medical device company's stock, valued at approximately $4,898,000.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of DexCom by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock valued at $727,842,000 after acquiring an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DexCom by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company's stock valued at $530,897,000 after buying an additional 516,526 shares during the period. Norges Bank acquired a new position in shares of DexCom during the fourth quarter worth about $483,356,000. Invesco Ltd. increased its stake in shares of DexCom by 14.8% during the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock worth $352,781,000 after buying an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of DexCom by 7.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock worth $207,613,000 after buying an additional 220,313 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director directly owned 52,852 shares of the company's stock, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 firm's stock in a transaction on Tuesday, May 12th. The stock was 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. The trade was 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 71,750 shares of company stock valued at $5,163,241 in the last 90 days. Company insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DXCM. Weiss Ratings raised shares of DexCom from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Barclays reissued an "underweight" rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Mizuho raised their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Piper Sandler reiterated an "overweight" rating and set a $88.00 target price (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Finally, William Blair raised DexCom to a "strong-buy" rating in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $85.36.

DexCom Price Performance

DXCM opened at $76.65 on Monday. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The stock has a market capitalization of $29.58 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The business's 50-day simple moving average is $71.16 and its 200-day simple moving average is $68.74.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business's revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. Analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current year.

DexCom 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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