HighTower Advisors LLC Buys 68,251 Shares of DexCom, Inc. $DXCM

Key Points

• HighTower Advisors LLC increased its stake in DexCom by 127.7% in the fourth quarter, buying 68,251 additional shares and bringing its total holdings to 121,697 shares worth about $8.08 million.
• DexCom reported better-than-expected quarterly results, with earnings of $0.56 per share versus estimates of $0.47 and revenue of $1.19 billion, up 15% year over year.
• Analyst sentiment remains mostly positive overall, with a Moderate Buy consensus and an average price target of $82.21, though a few firms have trimmed targets and Barclays maintains an underweight rating.

HighTower Advisors LLC raised its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 127.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,697 shares of the medical device company's stock after purchasing an additional 68,251 shares during the period. HighTower Advisors LLC's holdings in DexCom were worth $8,077,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its position in DexCom by 13.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,081 shares of the medical device company's stock worth $669,000 after purchasing an additional 1,207 shares during the last quarter. Gabelli Funds LLC raised its position in DexCom by 0.4% during the 4th quarter. Gabelli Funds LLC now owns 50,200 shares of the medical device company's stock worth $3,332,000 after purchasing an additional 200 shares during the last quarter. North Dakota State Investment Board bought a new position in DexCom during the 4th quarter worth $1,296,000. iA Global Asset Management Inc. raised its position in DexCom by 6.8% during the 4th quarter. iA Global Asset Management Inc. now owns 48,488 shares of the medical device company's stock worth $3,218,000 after purchasing an additional 3,068 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan raised its position in DexCom by 32.0% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 8,580 shares of the medical device company's stock worth $569,000 after purchasing an additional 2,080 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Stock Performance

DXCM stock opened at $72.01 on Wednesday. The stock has a 50-day moving average price of $63.87 and a 200-day moving average price of $66.18. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. 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 firm has a market cap of $27.79 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company posted $0.32 EPS. The business's quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

DXCM has been the subject of several analyst reports. Weiss Ratings raised DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, March 4th. BTIG Research reaffirmed a "buy" rating and set a $85.00 target price on shares of DexCom in a research report on Monday, March 9th. Citigroup reissued a "buy" rating and issued a $79.00 price objective (down from $84.00) on shares of DexCom in a research report on Monday, May 4th. Truist Financial reissued a "buy" rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Finally, Barclays reissued an "underweight" rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.21.

Insider Transactions at DexCom

In other news, insider Kevin R. Sayer sold 26,759 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares in the company, valued at $27,538,704. This trade represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,500,670.07. This 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. In the last ninety days, insiders sold 32,871 shares of company stock valued at $2,306,638. Corporate insiders own 0.28% of the company's stock.

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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