Fifth Third Bancorp Has $4.77 Million Holdings in DexCom, Inc. $DXCM

Fifth Third Bancorp increased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 206.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,907 shares of the medical device company’s stock after purchasing an additional 51,097 shares during the period. Fifth Third Bancorp’s holdings in DexCom were worth $4,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in DexCom by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock worth $727,842,000 after buying an additional 42,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of DexCom by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock valued at $530,897,000 after acquiring an additional 516,526 shares in the last quarter. Norges Bank bought a new stake in DexCom in the fourth quarter valued at about $483,356,000. Invesco Ltd. lifted its stake in DexCom by 14.8% during the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after purchasing an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in DexCom by 7.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock valued at $207,613,000 after purchasing an additional 220,313 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

Insider Activity

In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of DexCom stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president directly owned 100,361 shares in the company, valued at approximately $7,326,353. This represents a 4.67% 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. In the last 90 days, insiders have sold 71,750 shares of company stock valued at $5,163,241. 0.28% of the stock is currently owned by company insiders.

DexCom Stock Performance

DXCM stock opened at $76.65 on Friday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The company has a market cap of $29.58 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The business’s fifty day moving average is $71.16 and its 200-day moving average is $68.73.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business 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 posted $0.32 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that DexCom, Inc. will post 2.57 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DXCM. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Bank of America lowered their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group set a $82.00 target price on shares of DexCom and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Truist Financial increased their price target on DexCom from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

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.