Grimes & Company Inc. Buys Shares of 134,935 DexCom, Inc. (NASDAQ:DXCM)

Grimes & Company Inc. bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 134,935 shares of the medical device company's stock, valued at approximately $9,215,000.

A number of other hedge funds have also recently bought and sold shares of DXCM. Private Trust Co. NA lifted its holdings in shares of DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock valued at $26,000 after purchasing an additional 245 shares during the last quarter. Optiver Holding B.V. purchased a new stake in DexCom during the fourth quarter valued at about $33,000. TD Private Client Wealth LLC boosted its holdings in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after buying an additional 167 shares during the period. Larson Financial Group LLC increased its position in shares of DexCom by 40.5% in the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after acquiring an additional 137 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of DexCom during the fourth quarter valued at approximately $38,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on DXCM. Piper Sandler decreased their target price on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Truist Financial began coverage on DexCom in a research note on Monday. They set a "buy" rating and a $102.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 price target for the company. Barclays boosted their price objective on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of DexCom from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and an average price target of $98.50.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 10,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $84.28, for a total transaction of $842,800.00. Following the transaction, the executive vice president now owns 95,602 shares of the company's stock, valued at approximately $8,057,336.56. This represents a 9.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 6,184 shares of DexCom stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president now owns 109,621 shares of the company's stock, valued at approximately $9,329,843.31. The trade was a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,474 shares of company stock valued at $1,887,026. 0.32% of the stock is currently owned by corporate insiders.

DexCom Price Performance

NASDAQ DXCM traded down $0.31 on Wednesday, reaching $81.53. The company's stock had a trading volume of 658,235 shares, compared to its average volume of 4,330,009. The firm has a market cap of $31.97 billion, a PE ratio of 60.81, a price-to-earnings-growth ratio of 1.77 and a beta of 1.46. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $117.49. The business has a 50-day moving average price of $79.25 and a 200 day moving average price of $79.38.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.05% and a net margin of 12.90%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $0.32 EPS. The business's quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

DexCom 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.