Corient Private Wealth LLC Acquires 87,468 Shares of DexCom, Inc. $DXCM

Key Points

• Corient Private Wealth LLC boosted its DexCom stake by 241.1% in the fourth quarter, buying 87,468 additional shares and bringing its total to 123,754 shares worth about $8.22 million.
• Institutional interest in DexCom remains high, with several other funds also adding positions; overall, institutional investors now own 97.75% of the company.
• Analysts remain constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $84.88, while DexCom’s recent quarterly results beat expectations on both earnings and revenue.

Corient Private Wealth LLC increased its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 241.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,754 shares of the medical device company's stock after purchasing an additional 87,468 shares during the quarter. Corient Private Wealth LLC's holdings in DexCom were worth $8,221,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DXCM. Norges Bank acquired a new stake in DexCom in the 4th quarter valued at $483,356,000. AQR Capital Management LLC boosted its stake in shares of DexCom by 597.8% during the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company's stock worth $205,932,000 after buying an additional 2,658,158 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of DexCom during the 3rd quarter worth about $163,964,000. CIBC Private Wealth Group LLC grew its holdings in shares of DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock valued at $195,666,000 after acquiring an additional 2,294,709 shares in the last quarter. Finally, Employees Provident Fund Board bought a new position in shares of DexCom in the 4th quarter valued at about $145,352,000. Institutional investors own 97.75% of the company's stock.

Insider Buying and Selling

In related news, Director Mark G. Foletta sold 4,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director directly owned 52,852 shares of the company's stock, valued at approximately $3,917,918.76. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing 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, insider Kevin R. Sayer sold 26,759 shares of the 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 sale, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. This trade represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 46,694 shares of company stock valued at $3,343,977. Insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

DXCM has been the topic of several analyst reports. William Blair upgraded DexCom to a "strong-buy" rating in a report on Friday, May 15th. Benchmark restated a "buy" rating on shares of DexCom in a research note on Tuesday. TD Cowen reaffirmed a "buy" rating and set a $95.00 price target (up from $75.00) on shares of DexCom in a research report on Wednesday, June 10th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on DexCom in a report on Tuesday. They issued a "buy" rating and a $86.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, DexCom currently has an average rating of "Moderate Buy" and a consensus price target of $84.88.

DexCom Stock Up 1.2%

Shares of DXCM stock opened at $69.73 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The firm's 50-day moving average is $67.36 and its 200-day moving average is $68.04. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 1.08 and a beta of 1.45. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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%.DexCom's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Sell-side analysts predict that DexCom, Inc. will post 2.58 EPS for the current year.

DexCom Company 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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