CIBC Asset Management Inc Boosts Holdings in DexCom, Inc. $DXCM

Key Points

• CIBC Asset Management increased its DexCom stake by 36.6% in the fourth quarter, adding 57,178 shares to bring its total to 213,363 shares worth about $14.2 million.
• DexCom insiders were active sellers recently, including CEO Kevin R. Sayer, who sold 26,759 shares in a pre-arranged plan, while insiders sold 32,871 shares overall last quarter.
• The company reported better-than-expected quarterly results, with EPS of $0.56 versus $0.47 expected and revenue of $1.19 billion, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $82.42.

CIBC Asset Management Inc lifted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 36.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 213,363 shares of the medical device company's stock after acquiring an additional 57,178 shares during the quarter. CIBC Asset Management Inc owned 0.05% of DexCom worth $14,161,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DXCM. Trust Co. of Vermont raised its position in DexCom by 14.8% in the 4th quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company's stock worth $74,000 after purchasing an additional 145 shares during the period. CVA Family Office LLC boosted its position in DexCom by 48.5% during the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after buying an additional 147 shares during the period. IFP Advisors Inc grew its stake in shares of DexCom by 24.7% during the third quarter. IFP Advisors Inc now owns 900 shares of the medical device company's stock valued at $61,000 after buying an additional 178 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in shares of DexCom by 5.0% in the third quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company's stock worth $260,000 after buying an additional 185 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings 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 during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Buying and Selling

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the transaction, the insider directly owned 382,482 shares in the company, valued at approximately $27,538,704. This represents a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,871 shares of company stock valued at $2,306,638 over the last quarter. 0.28% of the stock is owned by company insiders.

DexCom Stock Down 0.2%

Shares of NASDAQ:DXCM opened at $72.59 on Friday. The stock's 50-day moving average is $64.71 and its 200 day moving average is $66.94. The company has a market cap of $28.01 billion, a PE ratio of 31.02, a P/E/G ratio of 1.14 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. The business 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 quarter last year, the business posted $0.32 EPS. Sell-side analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on DXCM. Piper Sandler restated an "overweight" rating on shares of DexCom in a report on Thursday, February 5th. Sanford C. Bernstein set a $77.00 price target on DexCom in a research note on Friday, May 1st. William Blair upgraded DexCom to a "strong-buy" rating in a research report on Friday, May 15th. Robert W. Baird set a $80.00 price objective on DexCom in a research note on Friday, May 1st. Finally, Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 target price on the stock in a report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $82.42.

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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