Northwestern Mutual Wealth Management Co. Acquires 32,392 Shares of DexCom, Inc. $DXCM

Key Points

• Northwestern Mutual Wealth Management Co. increased its DexCom stake by 209.9% in the fourth quarter, buying 32,392 shares and bringing its total holdings to 47,826 shares worth about $3.17 million.
• DexCom reported better-than-expected quarterly results, with EPS of $0.56 versus estimates of $0.47 and revenue of $1.19 billion, up 15% year over year.
• Analysts remain broadly constructive on the stock, with a Moderate Buy consensus and an average price target of $82.21, even as some firms trimmed their targets.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 209.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,826 shares of the medical device company's stock after buying an additional 32,392 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in DexCom were worth $3,174,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of DexCom by 2.3% during 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 buying an additional 1,133,638 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of DexCom by 374.3% during the 3rd 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 buying an additional 2,294,709 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of DexCom by 4.7% during the 3rd quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company's stock valued at $177,356,000 after buying an additional 117,493 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of DexCom during the 3rd quarter valued at $163,964,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of DexCom by 52.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,444,566 shares of the medical device company's stock valued at $97,187,000 after buying an additional 497,039 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Stock Performance

Shares of DexCom stock opened at $72.10 on Tuesday. The stock has a market cap of $27.82 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.19 and a beta of 1.40. The firm's 50-day moving average is $63.72 and its 200 day moving average is $66.09. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. 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 (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. DexCom's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Sell-side analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America dropped their target price on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 target price on the stock in a report on Tuesday, March 24th. William Blair upgraded shares of DexCom to a "strong-buy" rating in a report on Friday, May 15th. Weiss Ratings upgraded shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, March 4th. Finally, Truist Financial reiterated a "buy" rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $82.21.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company's stock in a transaction dated 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 owned 25,007 shares in the company, valued at $1,500,670.07. This represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,112 shares of company stock worth $379,990. 0.28% of the stock is currently owned by company insiders.

DexCom Profile

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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