Central Pacific Bank Trust Division Buys New Position in DexCom, Inc. (NASDAQ:DXCM)

Central Pacific Bank Trust Division purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,646 shares of the medical device company's stock, valued at approximately $590,000.

Several other institutional investors have also recently made changes to their positions in DXCM. Norges Bank acquired a new stake in DexCom during the fourth quarter worth $385,367,000. Congress Asset Management Co. grew its holdings in shares of DexCom by 5,456.9% during 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 purchasing an additional 1,332,522 shares during the period. Fisher Funds Management LTD acquired a new stake in shares of DexCom during the 4th quarter worth about $96,507,000. Woodline Partners LP purchased a new stake in DexCom in the 4th quarter valued at about $63,338,000. Finally, Northern Trust Corp lifted its position in DexCom by 22.2% in the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after buying an additional 753,857 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Stock Down 0.7%

Shares of DXCM traded down $0.60 during midday trading on Wednesday, reaching $86.19. The stock had a trading volume of 571,713 shares, compared to its average volume of 4,334,604. The company has a market cap of $33.80 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 2.30 and a beta of 1.43. The company's fifty day simple moving average is $75.28 and its two-hundred day simple moving average is $78.84. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $120.48. 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 - Get Free Report) last posted 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 net margin of 14.29% and a return on equity of 30.14%. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the company earned $0.32 EPS. The business's quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity

In other news, EVP Sadie Stern sold 6,184 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the sale, the executive vice president now owns 109,621 shares in the company, valued at approximately $9,329,843.31. The trade was a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Jon Brown sold 13,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at $7,432,268.76. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,110 shares of company stock worth $6,103,505. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 price target for the company. Barclays lifted their target price on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Citigroup restated a "buy" rating and set a $102.00 price target (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Piper Sandler dropped their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley increased their target price on DexCom from $75.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, DexCom currently has a consensus rating of "Moderate Buy" and an average price target of $98.32.

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.