Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in DexCom, Inc. $DXCM

Key Points

• Fideuram Intesa Sanpaolo Private Banking bought a new stake in DexCom during the fourth quarter, purchasing 28,001 shares worth about $1.86 million.
• Institutional ownership remains very high, with several other large investors adding to or initiating positions; the article says institutions own 97.75% of DexCom shares.
• DexCom reported better-than-expected quarterly results, with EPS of $0.56 versus $0.47 expected and revenue of $1.19 billion, while analysts continue to view the stock favorably with a Moderate Buy consensus and an average price target of $82.21.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,001 shares of the medical device company's stock, valued at approximately $1,858,000.

Several other large investors have also modified their holdings of DXCM. Holocene Advisors LP acquired a new position in shares of DexCom in the 3rd quarter worth $163,964,000. CIBC Private Wealth Group LLC lifted its holdings 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 purchasing an additional 2,294,709 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock valued at $3,327,897,000 after purchasing an additional 1,133,638 shares during the period. Iron Triangle Partners LP acquired a new position in shares of DexCom in the 3rd quarter valued at $57,196,000. Finally, DNB Asset Management AS increased its stake in DexCom by 271.8% in the 3rd quarter. DNB Asset Management AS now owns 1,098,544 shares of the medical device company's stock worth $73,921,000 after purchasing an additional 803,086 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president directly owned 111,204 shares of the company's stock, valued at approximately $7,010,300.16. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the transaction, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. The trade was 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. Insiders have sold 6,112 shares of company stock worth $379,990 over the last ninety days. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on DXCM shares. Piper Sandler restated an "overweight" rating on shares of DexCom in a report on Thursday, February 5th. Benchmark began coverage on shares of DexCom in a research report on Monday, May 11th. They issued a "buy" rating and a $77.00 target price on the stock. Robert W. Baird set a $80.00 target price on shares of DexCom in a research report on Friday, May 1st. Evercore raised shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 target price on the stock in a research report on Tuesday, March 24th. Finally, TD Cowen dropped their target price on shares of DexCom from $84.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.21.

DexCom Stock Performance

DexCom stock opened at $72.10 on Friday. The firm's 50 day simple moving average is $63.58 and its 200-day simple moving average is $65.98. The company has a market cap of $27.82 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week 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 for the quarter, topping the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted $0.32 earnings per share. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts predict that DexCom, Inc. will post 2.57 EPS for the current year.

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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