Waters Parkerson & CO. LLC Grows Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Waters Parkerson & CO. LLC increased its stake in DexCom, Inc. (NASDAQ:DXCM) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 313,197 shares of the medical device company’s stock after purchasing an additional 4,364 shares during the quarter. DexCom accounts for 1.3% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 26th largest position. Waters Parkerson & CO. LLC owned about 0.08% of DexCom worth $24,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DXCM. Norges Bank purchased a new position in shares of DexCom in the 4th quarter worth $385,367,000. Congress Asset Management Co. lifted its holdings in DexCom by 5,456.9% in the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after acquiring an additional 1,332,522 shares during the period. Fisher Funds Management LTD purchased a new position in DexCom in the fourth quarter worth about $96,507,000. Northern Trust Corp grew its stake in shares of DexCom by 22.2% during the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock valued at $322,454,000 after purchasing an additional 753,857 shares during the period. Finally, Jennison Associates LLC increased its position in shares of DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after purchasing an additional 710,858 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Insider Activity

In other DexCom news, EVP Jereme M. Sylvain sold 7,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $73.83, for a total transaction of $516,810.00. Following the transaction, the executive vice president now owns 135,482 shares in the company, valued at $10,002,636.06. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Jon Brown sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $914,940.00. Following the completion of the sale, the executive vice president now owns 105,602 shares of the company’s stock, valued at $7,432,268.76. This trade represents a 10.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,926 shares of company stock valued at $4,734,384. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DXCM has been the subject of several recent research reports. Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Redburn Atlantic upgraded DexCom from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Barclays boosted their price target on DexCom from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Piper Sandler decreased their price objective on DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup boosted their price objective on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.11.

DexCom Trading Down 0.2%

DXCM stock opened at $85.48 on Monday. The firm has a market cap of $33.52 billion, a PE ratio of 59.78, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The firm has a fifty day moving average price of $72.01 and a 200 day moving average price of $77.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $132.09.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 14.29% and a return on equity of 30.14%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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.