SBI Okasan Asset Management Co.Ltd. Buys Shares of 26,670 DexCom, Inc. $DXCM

Key Points

• SBI Okasan Asset Management opened a new position in DexCom during the fourth quarter, buying 26,670 shares worth about $1.8 million.
• Analysts remain broadly positive on DexCom, with a consensus rating of “Moderate Buy” and an average price target of $82.42.
• DexCom reported stronger-than-expected quarterly results, including $0.56 EPS versus the $0.47 estimate and $1.19 billion in revenue, up 15% year over year.

SBI Okasan Asset Management Co.Ltd. bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,670 shares of the medical device company's stock, valued at approximately $1,799,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its stake in DexCom by 14.8% in the fourth quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company's stock valued at $74,000 after buying an additional 145 shares during the last quarter. CVA Family Office LLC lifted its stake in DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after buying an additional 147 shares during the last quarter. IFP Advisors Inc raised its stake in shares of DexCom by 24.7% during the third quarter. IFP Advisors Inc now owns 900 shares of the medical device company's stock valued at $61,000 after purchasing an additional 178 shares in the last quarter. Personal CFO Solutions LLC raised its stake in shares of DexCom by 5.0% during the third quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company's stock valued at $260,000 after purchasing an additional 185 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after purchasing an additional 196 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DXCM shares. Mizuho set a $75.00 price objective on shares of DexCom in a research note on Friday, May 1st. Truist Financial restated a "buy" rating and set a $80.00 price objective (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Weiss Ratings upgraded shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, March 4th. Piper Sandler restated an "overweight" rating on shares of DexCom in a research note on Thursday, February 5th. Finally, William Blair upgraded shares of DexCom to a "strong-buy" rating in a research note on Friday, May 15th. Three research 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 assigned a Sell rating to the stock. According to data from MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.42.

Insider Buying and Selling

In related news, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of DexCom 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 transaction, the insider directly owned 382,482 shares in the company, valued at $27,538,704. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 32,871 shares of company stock valued at $2,306,638. 0.28% of the stock is owned by corporate insiders.

DexCom Price Performance

NASDAQ:DXCM opened at $72.34 on Friday. The business's 50-day moving average price is $64.05 and its 200 day moving average price is $66.39. The firm has a market cap of $27.91 billion, a P/E ratio of 30.91, a PEG ratio of 1.16 and a beta of 1.40. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM - Get Free Report) last released its 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.DexCom's revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. As a group, sell-side analysts predict that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

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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