William Blair Investment Management LLC Makes New Investment in DexCom, Inc. $DXCM

William Blair Investment Management LLC bought a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, Holdings Channel reports. The fund bought 171,573 shares of the medical device company’s stock, valued at approximately $11,387,000.

Other hedge funds have also recently modified their holdings of the company. Gradient Investments LLC lifted its holdings in DexCom by 13.8% during the fourth quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock worth $22,035,000 after buying an additional 40,343 shares during the period. Nordea Investment Management AB grew its stake in DexCom by 118.6% in the fourth quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock valued at $16,988,000 after purchasing an additional 137,986 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in DexCom by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock worth $14,269,000 after purchasing an additional 21,352 shares in the last quarter. NEOS Investment Management LLC lifted its position in shares of DexCom by 58.7% during the third quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock valued at $11,842,000 after buying an additional 65,066 shares during the last quarter. Finally, Banco Santander S.A. boosted its holdings in shares of DexCom by 28.9% in the 3rd quarter. Banco Santander S.A. now owns 250,310 shares of the medical device company’s stock valued at $16,843,000 after buying an additional 56,062 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

DXCM stock opened at $72.10 on Tuesday. The firm’s fifty day simple moving average is $63.72 and its 200-day simple moving average is $66.09. The company has a market capitalization of $27.82 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. As a group, equities research analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current year.

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 stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the transaction, the director owned 25,007 shares in the company, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $59.91, for a total value of $101,847.00. Following the completion of the transaction, the executive vice president directly owned 109,504 shares of the company’s stock, valued at approximately $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 have sold a total of 6,112 shares of company stock worth $379,990 over the last ninety days. 0.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DXCM. Evercore raised shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Tuesday, March 24th. Weiss Ratings upgraded shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Bank of America reduced their price target on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Truist Financial reiterated a “buy” rating and set a $80.00 price objective (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Finally, Raymond James Financial set a $81.00 target price on DexCom in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently 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.