ProShare Advisors LLC Grows Position in DexCom, Inc. (NASDAQ:DXCM)

ProShare Advisors LLC increased its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 506,421 shares of the medical device company's stock after acquiring an additional 70,303 shares during the quarter. ProShare Advisors LLC owned about 0.13% of DexCom worth $39,384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA lifted its position in DexCom by 266.3% during the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock worth $26,000 after buying an additional 245 shares in the last quarter. Optiver Holding B.V. acquired a new position in DexCom during the 4th quarter worth about $33,000. TD Private Client Wealth LLC lifted its position in DexCom by 62.8% during the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after buying an additional 167 shares in the last quarter. Larson Financial Group LLC lifted its position in DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after buying an additional 137 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in DexCom during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Insiders Place Their Bets

In related news, COO Jacob Steven Leach sold 14,076 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the sale, the chief operating officer now directly owns 313,497 shares of the company's stock, valued at approximately $22,063,918.86. This represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 13,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the sale, the executive vice president now directly owns 105,602 shares of the company's stock, valued at approximately $7,432,268.76. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,926 shares of company stock worth $4,734,384. Corporate insiders own 0.32% of the company's stock.

DexCom Price Performance

DXCM stock traded down $1.56 during midday trading on Wednesday, reaching $85.78. The company had a trading volume of 622,201 shares, compared to its average volume of 4,344,496. The company has a market capitalization of $33.64 billion, a price-to-earnings ratio of 59.96, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The stock has a 50 day moving average price of $72.71 and a 200-day moving average price of $77.87. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $131.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The business's revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of DexCom from $101.00 to $104.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Mizuho started coverage on DexCom in a report on Thursday, April 10th. They set an "outperform" rating and a $85.00 price objective for the company. Redburn Atlantic raised DexCom from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Canaccord Genuity Group upped their price target on DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, Piper Sandler lowered their target price on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $98.11.

DexCom Profile

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.