OMERS ADMINISTRATION Corp Grows Position in DexCom, Inc. $DXCM

OMERS ADMINISTRATION Corp boosted its stake in DexCom, Inc. (NASDAQ:DXCM) by 438.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 157,201 shares of the medical device company’s stock after buying an additional 128,005 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in DexCom were worth $10,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Gradient Investments LLC increased its position in shares of DexCom by 13.8% during the 4th quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock valued at $22,035,000 after purchasing an additional 40,343 shares during the last quarter. Nordea Investment Management AB increased its position in shares of DexCom by 118.6% during the 4th 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. NEOS Investment Management LLC increased its position in shares of DexCom by 58.7% during the 3rd quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock valued at $11,842,000 after purchasing an additional 65,066 shares during the last quarter. Banco Santander S.A. increased its position in shares of DexCom by 28.9% during 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 purchasing an additional 56,062 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its position in shares of DexCom by 58.2% during the 4th quarter. Banque Pictet & Cie SA now owns 109,823 shares of the medical device company’s stock valued at $7,289,000 after purchasing an additional 40,411 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Down 1.5%

Shares of NASDAQ DXCM opened at $74.22 on Tuesday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The business has a 50-day simple moving average of $66.37 and a two-hundred day simple moving average of $67.68. 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 $28.64 billion, a P/E ratio of 31.72, a P/E/G ratio of 1.18 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. Research analysts anticipate that DexCom, Inc. will post 2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DXCM has been the subject of several research analyst reports. Mizuho set a $85.00 target price on DexCom and gave the company an “outperform” rating in a research report on Tuesday, June 9th. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 target price (up from $75.00) on shares of DexCom in a research report on Monday. Barclays reaffirmed 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. Truist Financial reiterated a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Finally, Robert W. Baird set a $80.00 price target on DexCom in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $84.83.

Insiders Place Their Bets

In other DexCom news, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $74.13, for a total value of $364,052.43. Following the sale, the executive vice president owned 95,450 shares of the company’s stock, valued at $7,075,708.50. This trade represents a 4.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 firm’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 transaction, the executive vice president directly owned 109,504 shares in the company, valued at approximately $6,560,384.64. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 40,994 shares of company stock worth $2,919,022. 0.28% of the stock is currently owned by insiders.

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.