Gulf International Bank UK Ltd Decreases Stake in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Gulf International Bank UK Ltd reduced its stake in DexCom, Inc. by 24.9% in the first quarter, now holding 22,791 shares valued at approximately $1.56 million.
• Multiple institutional investors, including Vanguard and Jennison Associates, increased their positions in DexCom, highlighting ongoing interest in the company.
• DexCom reported a quarterly earnings beat of $0.48 per share, exceeding expectations and showcasing a 15.2% year-over-year revenue growth.

Gulf International Bank UK Ltd decreased its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,791 shares of the medical device company's stock after selling 7,563 shares during the period. Gulf International Bank UK Ltd's holdings in DexCom were worth $1,556,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in DexCom by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock valued at $3,240,763,000 after buying an additional 925,882 shares during the last quarter. Jennison Associates LLC grew its position in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after acquiring an additional 2,879,489 shares during the period. Nuveen LLC bought a new position in shares of DexCom during the 1st quarter valued at approximately $554,893,000. Northern Trust Corp grew its position in shares of DexCom by 22.2% during the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after acquiring an additional 753,857 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of DexCom by 171.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after acquiring an additional 2,015,971 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on DXCM. UBS Group increased their target price on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Truist Financial began coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Mizuho increased their target price on shares of DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their target price on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Citigroup reissued a "buy" rating and set a $102.00 target price (up from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.89.

Insider Activity at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $83.13, for a total transaction of $228,607.50. Following the sale, the director owned 56,621 shares in the company, valued at approximately $4,706,903.73. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction on Monday, June 16th. The shares were 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 in the company, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,656 shares of company stock worth $2,412,191. Corporate insiders own 0.32% of the company's stock.

DexCom Stock Performance

DexCom stock opened at $79.96 on Friday. The firm's fifty day moving average price is $83.17 and its 200-day moving average price is $80.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. The stock has a market cap of $31.36 billion, a P/E ratio of 55.53, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. On average, equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

About DexCom

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.

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