DexCom, Inc. $DXCM Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its DexCom stake by 0.4% in the fourth quarter, ending with 11,006,183 shares worth about $727.8 million. The firm now owns 2.82% of the company.
• DexCom reported better-than-expected quarterly results, with EPS of $0.56 versus the $0.47 consensus and revenue of $1.19 billion versus $1.17 billion expected. Revenue rose 15% year over year.
• Analyst sentiment remains positive, with multiple firms issuing buy ratings and an average target price of $82.42. The stock last traded at $73.74, below that average target.

Geode Capital Management LLC boosted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,006,183 shares of the medical device company's stock after acquiring an additional 42,411 shares during the quarter. Geode Capital Management LLC owned 2.82% of DexCom worth $727,842,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DXCM. CVA Family Office LLC increased its position in DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after acquiring an additional 147 shares during the period. ORG Partners LLC increased its position in DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after acquiring an additional 281 shares during the period. Spire Wealth Management increased its position in DexCom by 113.8% in the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock valued at $38,000 after acquiring an additional 305 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of DexCom during the 4th quarter valued at $43,000. Finally, Rothschild Investment LLC increased its position in shares of DexCom by 59.9% during the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company's stock valued at $44,000 after purchasing an additional 245 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total value of $107,168.00. Following the transaction, the executive vice president directly owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director owned 25,007 shares in the company, valued at $1,500,670.07. This represents a 3.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,871 shares of company stock worth $2,306,638 in the last three months. 0.28% of the stock is currently owned by insiders.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $73.74 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.22 and a beta of 1.40. The stock's fifty day simple moving average is $64.17 and its 200 day simple moving average is $66.44. 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 issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion for 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 company's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. As a group, sell-side analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DXCM. Canaccord Genuity Group set a $82.00 price target on DexCom and gave the company a "buy" rating in a research report on Monday, May 18th. Robert W. Baird set a $80.00 price target on DexCom in a research report on Friday, May 1st. Benchmark began coverage on DexCom in a research report on Monday, May 11th. They set a "buy" rating and a $77.00 price target on the stock. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Finally, Truist Financial reiterated a "buy" rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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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