DexCom, Inc. $DXCM Stock Holdings Lifted by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance increased its DexCom stake by 4.8% in the third quarter to 563,383 shares, valued at about $48.6 million; institutional investors own 97.75% of the stock.
• DexCom beat quarterly earnings and revenue estimates, reporting $0.73 in adjusted earnings per share and $1.34 billion in revenue. Revenue rose 11.1% year over year.
• Analyst sentiment was broadly positive: 26 analysts rated the stock Buy or Strong Buy, with a consensus price target of $95.50. DexCom is also set to launch its 15-day G7 glucose monitor in Canada.

Factory Mutual Insurance Co. increased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 563,383 shares of the medical device company's stock after acquiring an additional 25,553 shares during the period. Factory Mutual Insurance Co. owned approximately 0.15% of DexCom worth $48,614,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DXCM. Plato Investment Management Ltd purchased a new stake in DexCom in the 2nd quarter valued at about $782,000. Aurora Investment Counsel acquired a new stake in shares of DexCom during the second quarter valued at about $2,340,000. Silvant Capital Management LLC acquired a new stake in shares of DexCom during the second quarter valued at about $5,359,000. E Fund Management Co. Ltd. purchased a new stake in shares of DexCom in the 2nd quarter valued at approximately $1,273,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of DexCom in the 2nd quarter worth approximately $89,940,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Sadie Stern sold 2,565 shares of the business's stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $78.62, for a total value of $201,660.30. Following the completion of the transaction, the executive vice president owned 120,913 shares in the company, valued at $9,506,180.06. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total value of $302,936.26. Following the sale, the executive vice president directly owned 146,828 shares in the company, valued at $12,226,367.56. This represents a 2.42% 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 22,822 shares of company stock valued at $1,920,193 in the last quarter. Corporate insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DXCM shares. Weiss Ratings raised shares of DexCom from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. Piper Sandler reiterated an "overweight" rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on DexCom from $86.00 to $92.00 and gave the company a "buy" rating in a research report on Friday, July 31st. BTIG Research upped their price target on DexCom from $90.00 to $96.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Finally, Jefferies Financial Group raised their price target on DexCom from $112.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $95.50.

DexCom Stock Down 2.1%

Shares of DXCM opened at $82.97 on Wednesday. The stock has a market capitalization of $30.94 billion, a PE ratio of 32.54, a P/E/G ratio of 1.40 and a beta of 1.45. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.40 and a current ratio of 1.74. The company's 50-day simple moving average is $85.51 and its 200-day simple moving average is $74.79.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The medical device company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.68 by $0.05. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 earnings per share. Analysts forecast that DexCom, Inc. will post 2.68 earnings per share for the current fiscal year.

Key Headlines Impacting DexCom

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom is set to launch its 15-day G7 continuous glucose monitoring system in Canada in November. The longer sensor wear period may improve convenience and broaden patient access, supporting international growth prospects. DexCom to Launch 15-Day G7 CGM System in Canada This November
• Positive Sentiment: Analyst sentiment remains favorable: Leerink Partners reaffirmed its Buy rating, while Canaccord Genuity raised its target to $97 and UBS lifted its target to $107, both maintaining Buy ratings. Higher targets signal continued analyst confidence in DexCom’s outlook. Leerink Partners Reaffirms Their Buy Rating on Dexcom Canaccord Genuity Group recommendations UBS Group recommendations
• Neutral Sentiment: DexCom launched a campaign inviting people in the global diabetes community to share their experiences. The initiative may support awareness and engagement, but no direct financial impact was specified. A Letter to Diabetes campaign

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.

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