Allstate Corp Grows Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Allstate Corp more than doubled its stake in DexCom during the fourth quarter, increasing holdings by 102.2% to 28,962 shares worth about $1.92 million.
• DexCom’s latest earnings beat Wall Street expectations, with EPS of $0.56 and revenue of $1.19 billion, both ahead of estimates, while quarterly sales rose 15% year over year.
• Analyst sentiment remains constructive overall, with DexCom carrying a Moderate Buy rating and a consensus price target of $82.42, even as some recent targets were trimmed.

Allstate Corp raised its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 102.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,962 shares of the medical device company's stock after acquiring an additional 14,639 shares during the quarter. Allstate Corp's holdings in DexCom were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after acquiring an additional 11,946 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock worth $227,000 after buying an additional 196 shares in the last quarter. Empowered Funds LLC raised its position in shares of DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock worth $577,000 after buying an additional 436 shares in the last quarter. Focus Partners Wealth raised its position in shares of DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock worth $493,000 after buying an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company's stock worth $1,681,000 after buying an additional 258 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Stock Up 3.0%

NASDAQ DXCM opened at $72.34 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a market capitalization of $27.91 billion, a PE ratio of 30.91, a PEG ratio of 1.16 and a beta of 1.40. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The business's 50-day moving average is $64.05 and its 200 day moving average is $66.39.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for 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%.DexCom's quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Sell-side analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

DXCM has been the topic of a number of recent analyst reports. Truist Financial reiterated a "buy" rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. William Blair upgraded DexCom to a "strong-buy" rating in a research report on Friday, May 15th. TD Cowen lowered their price target on DexCom from $84.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Benchmark started coverage on DexCom in a research report on Monday, May 11th. They set a "buy" rating and a $77.00 price target on the stock. Finally, Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Three research 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 stock. According to data from MarketBeat, DexCom currently has an average rating of "Moderate Buy" and a consensus target price of $82.42.

Insider Buying and Selling at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction that occurred 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 sale, the director directly owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $59.91, for a total value of $101,847.00. Following the sale, the executive vice president directly owned 109,504 shares in the company, valued at approximately $6,560,384.64. The trade was a 1.53% 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. In the last three months, insiders have sold 32,871 shares of company stock valued at $2,306,638. 0.28% of the stock is currently owned by corporate insiders.

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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