Assenagon Asset Management S.A. Increases Position in DexCom, Inc. $DXCM

Key Points

• Assenagon Asset Management S.A. increased its stake in DexCom by 48% in Q4, adding 397,690 shares to hold 1,226,449 shares worth about $81.4 million (≈0.31% ownership).
• DexCom beat Q4 expectations with $0.68 EPS vs. $0.65 forecast and $1.26 billion revenue (+13.1% YoY); the stock trades near $66.60 with a $25.6 billion market cap and analysts' consensus is a Moderate Buy with an average price target of $86.50.
• Institutional investors own ~97.75% of DexCom while insiders hold ~0.32%, and an EVP recently sold 1,700 shares, slightly reducing insider ownership.

Assenagon Asset Management S.A. lifted its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 48.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,226,449 shares of the medical device company's stock after acquiring an additional 397,690 shares during the period. Assenagon Asset Management S.A. owned 0.31% of DexCom worth $81,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after purchasing an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake 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 purchasing an additional 196 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of DexCom by 5.4% during the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock worth $577,000 after purchasing an additional 436 shares during the period. Focus Partners Wealth lifted its holdings in shares of DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock worth $493,000 after purchasing an additional 841 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in DexCom in the second quarter valued at approximately $876,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Trading Up 1.0%

DexCom stock opened at $66.60 on Wednesday. The firm has a market cap of $25.63 billion, a PE ratio of 31.71, a P/E/G ratio of 1.29 and a beta of 1.48. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The stock's 50 day simple moving average is $70.33 and its two-hundred day simple moving average is $67.83. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $0.45 EPS. The business's quarterly revenue was up 13.1% on a year-over-year basis. Analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $64.85, for a total value of $110,245.00. Following the completion of the transaction, the executive vice president owned 112,904 shares in the company, valued at approximately $7,321,824.40. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DXCM. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a report on Tuesday. Weiss Ratings raised shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Canaccord Genuity Group set a $95.00 price objective on shares of DexCom and gave the stock a "buy" rating in a research note on Friday, February 13th. BTIG Research reissued a "buy" rating and set a $85.00 target price on shares of DexCom in a report on Monday, March 9th. Finally, Robert W. Baird set a $87.00 target price on shares of DexCom in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.50.

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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