NewEdge Wealth LLC Grows Holdings in DexCom, Inc. (NASDAQ:DXCM)

NewEdge Wealth LLC increased its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 407.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,912 shares of the medical device company's stock after buying an additional 30,440 shares during the quarter. NewEdge Wealth LLC's holdings in DexCom were worth $4,704,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in DexCom in the 4th quarter valued at about $421,378,000. Winslow Capital Management LLC bought a new position in DexCom in the 3rd quarter worth about $173,120,000. Vaughan Nelson Investment Management L.P. grew its stake in DexCom by 16,943.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,459,730 shares of the medical device company's stock worth $136,193,000 after acquiring an additional 1,451,165 shares in the last quarter. 1832 Asset Management L.P. bought a new position in DexCom in the 4th quarter worth about $151,538,000. Finally, Clearbridge Investments LLC grew its stake in DexCom by 304.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,318,079 shares of the medical device company's stock worth $674,329,000 after acquiring an additional 992,049 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Down 2.5 %

NASDAQ:DXCM traded down $3.48 during midday trading on Friday, reaching $136.14. 2,413,463 shares of the stock traded hands, compared to its average volume of 2,320,460. DexCom, Inc. has a 12-month low of $74.75 and a 12-month high of $142.00. The business has a 50-day moving average of $128.56 and a two-hundred day moving average of $115.41. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84. The stock has a market capitalization of $52.48 billion, a PE ratio of 103.92, a price-to-earnings-growth ratio of 2.40 and a beta of 1.20.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, February 8th. The medical device company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.07. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.02 billion. DexCom had a net margin of 14.95% and a return on equity of 28.31%. DexCom's revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, equities analysts forecast that DexCom, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, CEO Kevin R. Sayer sold 49,633 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $138.30, for a total value of $6,864,243.90. Following the completion of the transaction, the chief executive officer now owns 283,893 shares of the company's stock, valued at $39,262,401.90. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Kevin R. Sayer sold 49,633 shares of the firm's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $138.30, for a total transaction of $6,864,243.90. Following the completion of the transaction, the chief executive officer now owns 283,893 shares of the company's stock, valued at $39,262,401.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven R. Altman sold 1,568 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $122.86, for a total transaction of $192,644.48. Following the transaction, the director now directly owns 53,132 shares of the company's stock, valued at approximately $6,527,797.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,892 shares of company stock valued at $31,252,330. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DXCM. UBS Group upped their target price on shares of DexCom from $153.00 to $163.00 and gave the stock a "buy" rating in a research note on Wednesday. Piper Sandler upped their target price on shares of DexCom from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 19th. Raymond James increased their price objective on shares of DexCom from $147.00 to $151.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 23rd. Citigroup increased their price objective on shares of DexCom from $148.00 to $161.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of DexCom from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.40.

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.