National Bank of Canada FI Grows Position in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• The National Bank of Canada FI increased its holdings in DexCom, Inc. by 139.6% in the first quarter, acquiring an additional 331,528 shares, bringing its total ownership to 569,011 shares worth approximately $38.86 million.
• Insider transactions included a sale of 3,672 shares by director Nicholas Augustinos and 10,000 shares by EVP Michael Jon Brown, indicating a 9.90% and 9.47% decrease in their respective ownerships.
• Analysts have a consensus rating of "Moderate Buy" for DexCom, with a price target range between $102.00 and $106.00, reflecting optimism on the company's potential growth.

National Bank of Canada FI boosted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 139.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 569,011 shares of the medical device company's stock after acquiring an additional 331,528 shares during the quarter. National Bank of Canada FI owned 0.15% of DexCom worth $38,858,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC raised its stake in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after acquiring an additional 264 shares in the last quarter. Private Trust Co. NA lifted its holdings in DexCom by 99.4% during the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after buying an additional 335 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of DexCom by 29.3% during the first quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock valued at $209,000 after acquiring an additional 702 shares during the period. Dynamic Advisor Solutions LLC increased its position in DexCom by 34.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock worth $357,000 after purchasing an additional 1,333 shares during the period. Finally, Stonebridge Financial Group LLC increased its position in DexCom by 944.5% in the first quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock worth $220,000 after purchasing an additional 2,909 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DXCM shares. Piper Sandler raised their target price on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Truist Financial initiated coverage on DexCom in a research report on Monday, June 16th. They issued a "buy" rating and a $102.00 target price on the stock. Morgan Stanley raised their price target on DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $106.00 target price on shares of DexCom in a report on Friday, August 1st. Finally, Oppenheimer lifted their target price on DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $99.89.

Insider Activity at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the sale, the director owned 56,621 shares in the company, valued at $4,706,903.73. This represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 6,184 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the sale, the executive vice president directly owned 109,621 shares in the company, valued at $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock valued at $2,412,191 in the last 90 days. 0.32% of the stock is owned by company insiders.

DexCom Price Performance

DXCM stock traded up $2.32 during mid-day trading on Tuesday, hitting $80.17. 3,599,372 shares of the stock were exchanged, compared to its average volume of 3,780,046. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of 55.67, a PEG ratio of 1.63 and a beta of 1.43. The business has a fifty day moving average price of $83.40 and a 200 day moving average price of $80.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $93.25.

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