DexCom, Inc. $DXCM Shares Sold by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd cut its DexCom stake by 8.4%, selling 18,300 shares and retaining 198,786 shares valued at about $13.33 million.
• Large institutional moves include Vanguard holding 49.456 million shares (~$3.33B), CIBC Private Wealth boosting its stake by 374.3% to ~2.91 million shares, and Holocene Advisors establishing a ~ $164M new position, with institutions owning 97.75% of DexCom.
• Analysts show a consensus "Moderate Buy" with an average price target of $83.50, and DexCom recently beat quarterly estimates (EPS $0.56 vs. $0.47; revenue $1.19B vs. $1.17B), with revenue up ~15% year-over-year.

Premier Fund Managers Ltd lowered its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 198,786 shares of the medical device company's stock after selling 18,300 shares during the period. Premier Fund Managers Ltd owned 0.05% of DexCom worth $13,334,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DXCM. Holocene Advisors LP acquired a new stake in shares of DexCom during the third quarter valued at $163,964,000. CIBC Private Wealth Group LLC boosted its stake in shares of DexCom by 374.3% during the third 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of DexCom by 2.3% during the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock valued at $3,327,897,000 after acquiring an additional 1,133,638 shares during the last quarter. DSM Capital Partners LLC boosted its stake in shares of DexCom by 76.5% during the third quarter. DSM Capital Partners LLC now owns 2,533,539 shares of the medical device company's stock valued at $170,482,000 after acquiring an additional 1,098,243 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in shares of DexCom during the third quarter valued at $57,196,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DXCM. Truist Financial reaffirmed a "buy" rating and set a $80.00 price objective (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Wells Fargo & Company reduced their target price on DexCom from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, February 13th. BTIG Research reiterated a "buy" rating and set a $85.00 target price on shares of DexCom in a research report on Monday, March 9th. Robert W. Baird set a $80.00 target price on DexCom in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $83.50.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $60.36 on Thursday. The company has a market cap of $23.29 billion, a P/E ratio of 25.79, a PEG ratio of 1.03 and a beta of 1.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The business's 50-day simple moving average is $65.34 and its 200 day simple moving average is $66.33.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company's revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, sell-side analysts forecast that DexCom, Inc. will post 2.55 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the sale, the executive vice president directly owned 111,204 shares in the company, valued at approximately $7,010,300.16. This trade represents a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.28% of the company's stock.

DexCom 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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