Novem Group Invests $845,000 in DexCom, Inc. (NASDAQ:DXCM)

Novem Group acquired a new stake in DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,863 shares of the medical device company’s stock, valued at approximately $845,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. lifted its position in shares of DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after buying an additional 1,332,522 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in DexCom by 2,226.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company’s stock worth $18,085,000 after purchasing an additional 222,548 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of DexCom in the 4th quarter valued at $5,812,000. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in shares of DexCom by 500.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,000 shares of the medical device company’s stock valued at $467,000 after purchasing an additional 5,000 shares during the period. Finally, Merit Financial Group LLC bought a new position in DexCom in the fourth quarter worth approximately $228,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DXCM. Canaccord Genuity Group lifted their price objective on shares of DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Barclays lifted their target price on DexCom from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Mizuho initiated coverage on DexCom in a report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price target for the company. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Finally, Cfra Research raised shares of DexCom to a “hold” rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.

DexCom Stock Performance

Shares of DXCM opened at $84.89 on Thursday. The firm has a market cap of $33.29 billion, a PE ratio of 59.36, a PEG ratio of 2.30 and a beta of 1.43. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $131.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The stock’s fifty day moving average price is $72.99 and its two-hundred day moving average price is $77.92.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a return on equity of 30.14% and a net margin of 14.29%. DexCom’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 13,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the transaction, the executive vice president now owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. This represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 14,076 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the sale, the chief operating officer now owns 313,497 shares in the company, valued at $22,063,918.86. This trade represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,926 shares of company stock valued at $4,734,384. 0.32% of the stock is currently owned by corporate insiders.

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.