DNB Asset Management AS Boosts Position in DexCom, Inc. $DXCM

Key Points

• DNB Asset Management AS increased its DexCom stake by 15.6% in the fourth quarter, adding 170,847 shares and bringing its holdings to 1,269,391 shares valued at about $84.2 million.
• DexCom reported a strong quarter, with EPS of $0.56 versus the $0.47 estimate and revenue of $1.19 billion, up 15% year over year.
• Wall Street remains constructive on the stock, with a Moderate Buy consensus and an average price target of $83.22, while the company also announced a 2030 growth plan and a new $1 billion share buyback.

DNB Asset Management AS boosted its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,269,391 shares of the medical device company's stock after buying an additional 170,847 shares during the period. DNB Asset Management AS owned 0.33% of DexCom worth $84,249,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in DexCom by 209.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 47,826 shares of the medical device company's stock worth $3,174,000 after buying an additional 32,392 shares during the period. Isthmus Partners LLC increased its position in DexCom by 5.2% during the fourth quarter. Isthmus Partners LLC now owns 176,453 shares of the medical device company's stock worth $11,711,000 after buying an additional 8,667 shares during the period. Phoenix Financial Ltd. acquired a new position in DexCom during the fourth quarter worth approximately $256,000. Simmons Bank increased its position in DexCom by 9.9% during the fourth quarter. Simmons Bank now owns 3,545 shares of the medical device company's stock worth $235,000 after buying an additional 320 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in DexCom by 327.2% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,192 shares of the medical device company's stock worth $86,000 after buying an additional 913 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Trading Up 6.6%

NASDAQ:DXCM opened at $61.63 on Friday. The firm has a market cap of $23.78 billion, a P/E ratio of 26.34, a PEG ratio of 1.00 and a beta of 1.40. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock's 50 day simple moving average is $63.46 and its 200-day simple moving average is $65.89. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. Equities analysts anticipate that DexCom, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 that occurred 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 completion of the sale, the director owned 25,007 shares in the company, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 4,412 shares of company stock worth $278,143. Company insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on DXCM. Evercore raised DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price target on the stock in a research report on Tuesday, March 24th. Citigroup reaffirmed a "buy" rating and set a $79.00 price target (down from $84.00) on shares of DexCom in a research report on Monday, May 4th. Piper Sandler reaffirmed an "overweight" rating on shares of DexCom in a research report on Thursday, February 5th. Weiss Ratings raised DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Finally, Canaccord Genuity Group set a $100.00 target price on DexCom and gave the company a "buy" rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.22.

More DexCom News

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom outlined a 2030 growth plan calling for at least 10% annual revenue growth through 2030, along with margin targets that suggest improving profitability over time. Diabetes Tech Player DexCom Lays Out 2030 Growth Vision
• Positive Sentiment: The company authorized a new $1 billion share buyback, which can support the stock by signaling confidence in future cash flow and returning capital to shareholders. Diabetes Tech Player DexCom Lays Out 2030 Growth Vision
• Positive Sentiment: Management also highlighted next-generation products, including the G8 glucose sensor and dual-analyte sensing, which could expand DexCom’s competitive position and addressable market. Dexcom to add 2 board directors with activist investor Elliott
• Positive Sentiment: DexCom and Elliott Investment Management agreed to add two independent directors to the board and revise governance, a move that may improve oversight and strategic execution. Dexcom to appoint two directors, revamp board committee with Elliott
• Neutral Sentiment: Wall Street sentiment remains constructive overall, with a “Moderate Buy” consensus and an average price target above recent trading levels, though there are still some hold and underweight ratings in the mix. Are Wall Street analysts bullish on DexCom’s stock?
• Negative Sentiment: Director Bridgette Heller sold 1,012 shares, but the transaction was small and was made under a pre-arranged trading plan, so it is less likely to be a major negative signal. Bridgette Heller Sells 1,012 Shares of DexCom NASDAQ: DXCM Stock

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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