Blueshift Asset Management LLC Takes Position in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Blueshift Asset Management LLC has acquired a new position in DexCom, Inc. (NASDAQ:DXCM), purchasing 6,361 shares valued at approximately $434,000 in the first quarter.
• Multiple institutional investors have increased their stakes, with Golden State Wealth Management raising its position by 211.2% during the same period.
• Research analysts are optimistic about DexCom's stock, with the current consensus rating being a "Moderate Buy" and an average target price of $99.89.

Blueshift Asset Management LLC bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,361 shares of the medical device company's stock, valued at approximately $434,000.

Several other institutional investors have also recently bought and sold shares of the company. Nia Impact Advisors LLC raised its position in DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock valued at $766,000 after purchasing an additional 140 shares in the last quarter. Covestor Ltd increased its position in shares of DexCom by 15.6% in the fourth quarter. Covestor Ltd now owns 1,109 shares of the medical device company's stock worth $86,000 after purchasing an additional 150 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of DexCom by 1.2% in the first quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock worth $899,000 after purchasing an additional 157 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its position in shares of DexCom by 3.2% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock worth $407,000 after purchasing an additional 182 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in DexCom by 7.3% in the first quarter. Personal CFO Solutions LLC now owns 3,446 shares of the medical device company's stock worth $235,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

Analyst Ratings Changes

DXCM has been the subject of several analyst reports. Robert W. Baird lowered their target price on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised DexCom from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Truist Financial assumed coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price target on the stock. Oppenheimer lifted their price objective on shares of DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Raymond James Financial lifted their price target on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $99.89.

DexCom Stock Down 3.8%

DXCM stock traded down $3.03 during midday trading on Monday, hitting $76.25. 6,536,897 shares of the company's stock were exchanged, compared to its average volume of 3,215,437. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. The firm has a 50 day moving average price of $84.57 and a 200-day moving average price of $80.60. The stock has a market capitalization of $29.90 billion, a price-to-earnings ratio of 52.95, a price-to-earnings-growth ratio of 1.66 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The business's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. On average, analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity

In other news, EVP Michael Jon Brown sold 500 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $41,400.00. Following the transaction, the executive vice president owned 95,102 shares of the company's stock, valued at $7,874,445.60. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the sale, the director directly owned 33,411 shares in the company, valued at approximately $2,766,430.80. This represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock valued at $2,412,191 over the last three months. 0.32% of the stock is owned by corporate insiders.

DexCom Company 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.