Gabelli Funds LLC Purchases 11,100 Shares of DexCom, Inc. $DXCM

Gabelli Funds LLC lifted its holdings in DexCom, Inc. (NASDAQ:DXCM) by 22.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,300 shares of the medical device company’s stock after buying an additional 11,100 shares during the period. Gabelli Funds LLC’s holdings in DexCom were worth $3,850,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DXCM. Public Employees Retirement System of Ohio boosted its position in DexCom by 48.5% in the first quarter. Public Employees Retirement System of Ohio now owns 176,637 shares of the medical device company’s stock worth $11,093,000 after purchasing an additional 57,722 shares during the last quarter. Compound Planning Inc. increased its position in shares of DexCom by 33.1% during the 1st quarter. Compound Planning Inc. now owns 4,283 shares of the medical device company’s stock valued at $269,000 after purchasing an additional 1,066 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of DexCom by 100.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after purchasing an additional 1,275,142 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of DexCom during the 1st quarter valued at $50,240,000. Finally, Gibbs Wealth Management bought a new stake in shares of DexCom during the 1st quarter worth $236,000. 97.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DXCM. Sanford C. Bernstein set a $77.00 price target on shares of DexCom in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price objective for the company. Mizuho lifted their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Piper Sandler reiterated an “overweight” rating and issued a $88.00 target price (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Finally, Barclays reissued 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and an average target price of $85.40.

Insider Buying and Selling at DexCom

In other news, insider Kevin R. Sayer sold 26,756 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the sale, the insider owned 328,970 shares of the company’s stock, valued at $25,106,990.40. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total transaction of $364,052.43. Following the sale, the executive vice president owned 95,450 shares in the company, valued at $7,075,708.50. The trade was a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 98,506 shares of company stock valued at $7,205,258. Insiders own 0.28% of the company’s stock.

DexCom Stock Up 2.0%

Shares of NASDAQ DXCM opened at $74.85 on Wednesday. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The business’s fifty day moving average price is $72.79 and its 200-day moving average price is $69.01. The stock has a market capitalization of $28.88 billion, a PE ratio of 31.99, a P/E/G ratio of 1.21 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results 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 return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current year.

DexCom Company 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.