SG Americas Securities LLC Increases Position in DexCom, Inc. $DXCM

Key Points

• SG Americas Securities LLC boosted its DexCom stake by 271.4% in the first quarter, buying 1.51 million additional shares and bringing its total holdings to 2.07 million shares valued at about $129.7 million.
• Institutional ownership remains extremely high, with hedge funds and other investors holding 97.75% of DexCom’s stock. Several other firms also increased positions, including Geode Capital Management, UBS AM, Norges Bank and Invesco.
• DexCom reported better-than-expected Q1 earnings, posting $0.56 per share on revenue of $1.19 billion, both above analyst estimates. Still, some analysts remain cautious, with ratings ranging from strong buy to underweight and an average price target of $84.83.

SG Americas Securities LLC grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 271.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,065,277 shares of the medical device company's stock after buying an additional 1,509,219 shares during the quarter. SG Americas Securities LLC owned 0.54% of DexCom worth $129,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in DexCom by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock valued at $727,842,000 after acquiring an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in DexCom by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company's stock worth $530,897,000 after purchasing an additional 516,526 shares during the period. Norges Bank purchased a new stake in DexCom in the fourth quarter worth $483,356,000. Invesco Ltd. lifted its position in shares of DexCom by 14.8% during the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock worth $352,781,000 after purchasing an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of DexCom by 7.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock worth $207,613,000 after purchasing an additional 220,313 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DXCM shares. Weiss Ratings restated a "hold (c-)" rating on shares of DexCom in a report on Monday, June 1st. William Blair upgraded shares of DexCom to a "strong-buy" rating in a report on Friday, May 15th. Benchmark started coverage on shares of DexCom in a research report on Monday, May 11th. They issued a "buy" rating and a $77.00 price objective for the company. Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, Barclays reaffirmed an "underweight" rating and set a $64.00 target price (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 assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $84.83.

DexCom Stock Performance

Shares of DexCom stock opened at $72.47 on Monday. 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 stock's fifty day moving average price is $67.07 and its 200-day moving average price is $67.95. The firm has a market cap of $27.96 billion, a P/E ratio of 30.97, a P/E/G ratio of 1.13 and a beta of 1.45. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities research analysts expect that DexCom, Inc. will post 2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director directly owned 52,852 shares of the company's stock, valued at $3,917,918.76. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider directly owned 382,482 shares of the company's stock, valued at $27,538,704. This trade represents a 6.54% decrease in their position. 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 90 days, insiders have sold 46,694 shares of company stock worth $3,343,977. 0.28% of the stock is owned by corporate 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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