DexCom, Inc. (NASDAQ:DXCM) Shares Acquired by ING Groep NV

Key Points

• ING Groep NV significantly increased its stake in DexCom, Inc. by 171.3% during Q1, now owning approximately 0.05% of the company, valued at about $14.19 million.
• DexCom reported earnings of $0.48 per share, exceeding expectations, with revenue for the quarter reaching $1.16 billion, representing a 15.2% year-over-year increase.
• Analysts have a consensus rating of "Buy" for DexCom, with an average target price of $99.89, indicating positive future outlook for the stock.

ING Groep NV increased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 171.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 207,798 shares of the medical device company's stock after purchasing an additional 131,195 shares during the quarter. ING Groep NV owned approximately 0.05% of DexCom worth $14,191,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after acquiring an additional 264 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of DexCom during the 4th quarter worth $33,000. Heck Capital Advisors LLC acquired a new stake in DexCom during the fourth quarter worth about $38,000. Alpine Bank Wealth Management acquired a new position in DexCom in the 1st quarter valued at about $40,000. Finally, Private Trust Co. NA grew its stake in shares of DexCom by 99.4% in the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after buying an additional 335 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on DXCM. Barclays increased their price objective on DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Oppenheimer increased their price target on DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group increased their target price on shares of DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Piper Sandler lifted their target price on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $99.89.

Insider Transactions at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the transaction, the director directly owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nicholas Augustinos sold 3,672 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the sale, the director owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock worth $2,412,191 in the last three months. 0.32% of the stock is currently owned by insiders.

DexCom Stock Performance

Shares of NASDAQ DXCM remained flat at $76.40 during trading on Thursday. The stock had a trading volume of 3,067,729 shares, compared to its average volume of 3,640,460. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $93.25. The business's fifty day simple moving average is $83.83 and its 200-day simple moving average is $80.42. The stock has a market capitalization of $29.96 billion, a PE ratio of 53.06, a PEG ratio of 1.60 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.