Nuveen LLC Makes New $554.89 Million Investment in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Nuveen LLC acquired 8,125,536 shares of DexCom, Inc., representing approximately 2.07% ownership and valued at around $554.9 million.
• DexCom recently reported earnings of $0.48 per share, exceeding analyst expectations, with a year-over-year revenue increase of 15.2%.
• Analysts have upgraded DexCom's stock ratings, with several price targets now ranging from $89.00 to $104.00, indicating a general consensus rating of "Moderate Buy."

Nuveen LLC acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,125,536 shares of the medical device company's stock, valued at approximately $554,893,000. Nuveen LLC owned approximately 2.07% of DexCom as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in DexCom by 2.0% during 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 in the last quarter. Jennison Associates LLC increased its position in 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 buying an additional 2,879,489 shares in the last quarter. Northern Trust Corp increased its position in 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 buying an additional 753,857 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 buying an additional 2,015,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in DexCom by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,987,656 shares of the medical device company's stock valued at $204,027,000 after buying an additional 162,450 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Stock Performance

NASDAQ DXCM traded up $2.32 on Tuesday, hitting $80.17. 3,599,372 shares of the company traded hands, compared to its average volume of 3,780,046. The company has a market capitalization of $31.44 billion, a price-to-earnings ratio of 55.67, a P/E/G ratio of 1.63 and a beta of 1.43. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The business's 50 day moving average price is $83.40 and its 200-day moving average price is $80.19. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results 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. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.43 earnings per share. DexCom's quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group lifted their target price on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Piper Sandler lifted 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. Barclays lifted their target price on DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen lowered DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, Morgan Stanley lifted their target price on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Four 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's stock. Based on data from MarketBeat, DexCom currently has a consensus rating of "Moderate Buy" and an average target price of $99.89.

Insiders Place Their Bets

In other news, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the transaction, the director directly owned 56,621 shares in the company, valued at $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholas Augustinos sold 3,672 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares in the company, valued at $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,656 shares of company stock valued at $2,412,191 over the last three months. Insiders own 0.32% of the company's stock.

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.