99,181 Shares in DexCom, Inc. $DXCM Acquired by Cibc World Market Inc.

Cibc World Market Inc. bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 99,181 shares of the medical device company’s stock, valued at approximately $6,680,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in DexCom in the 4th quarter worth approximately $483,356,000. AQR Capital Management LLC raised its position in shares of DexCom by 597.8% during the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after buying an additional 2,658,158 shares during the last quarter. Deutsche Bank AG bought a new position in shares of DexCom during the second quarter worth $164,035,000. Employees Provident Fund Board purchased a new position in DexCom during the fourth quarter valued at $145,352,000. Finally, J. Stern & Co. LLP grew its stake in DexCom by 2,114.8% during the fourth quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock valued at $106,323,000 after acquiring an additional 1,529,641 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 2,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $85.32, for a total transaction of $170,640.00. Following the transaction, the director owned 48,852 shares in the company, valued at $4,168,052.64. This trade represents a 3.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 73,035 shares of company stock valued at $5,446,673 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Truist Financial set a $93.00 target price on DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. William Blair raised DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Trading Down 2.1%

DXCM opened at $89.16 on Wednesday. The stock has a 50-day moving average of $78.15 and a 200 day moving average of $71.19. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59. The firm has a market cap of $33.65 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.54 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, research analysts forecast that DexCom, Inc. will post 2.64 EPS for the current year.

About DexCom

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.