Sectoral Asset Management Inc. Has $1.91 Million Position in DexCom, Inc. $DXCM

Sectoral Asset Management Inc. raised its position in DexCom, Inc. (NASDAQ:DXCM) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,700 shares of the medical device company’s stock after acquiring an additional 8,000 shares during the quarter. DexCom makes up about 1.5% of Sectoral Asset Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Sectoral Asset Management Inc.’s holdings in DexCom were worth $1,905,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DXCM. Holocene Advisors LP acquired a new stake in DexCom in the third quarter valued at $163,964,000. CIBC Private Wealth Group LLC lifted its stake in DexCom by 374.3% in the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after acquiring an additional 2,294,709 shares during the last quarter. Vanguard Group Inc. lifted its stake in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after acquiring an additional 1,133,638 shares during the last quarter. Intermede Investment Partners Ltd acquired a new stake in DexCom in the fourth quarter valued at $60,351,000. Finally, Iron Triangle Partners LP acquired a new stake in DexCom in the third quarter valued at $57,196,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Activity

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director owned 25,007 shares in the company, valued at $1,500,670.07. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $59.91, for a total transaction of $101,847.00. Following the completion of the sale, the executive vice president owned 109,504 shares of the company’s stock, valued at $6,560,384.64. This trade represents a 1.53% 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. Insiders sold a total of 6,112 shares of company stock valued at $379,990 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

DexCom Stock Performance

NASDAQ DXCM opened at $72.10 on Monday. The firm has a 50-day moving average of $63.58 and a 200-day moving average of $66.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The stock has a market cap of $27.82 billion, a PE ratio of 30.81, a P/E/G ratio of 1.19 and a beta of 1.40. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The business’s revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DXCM. Raymond James Financial set a $81.00 target price on shares of DexCom in a research note on Friday, May 1st. Citigroup restated a “buy” rating and set a $79.00 target price (down from $84.00) on shares of DexCom in a research note on Monday, May 4th. Wells Fargo & Company cut their target price on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Piper Sandler restated an “overweight” rating on shares of DexCom in a research note on Thursday, February 5th. Finally, Barclays restated an “underweight” rating and set a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

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.