Simmons Bank Raises Holdings in DexCom, Inc. (NASDAQ:DXCM)

Simmons Bank raised its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,750 shares of the medical device company’s stock after purchasing an additional 200 shares during the period. Simmons Bank’s holdings in DexCom were worth $425,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of New Hampshire bought a new position in shares of DexCom during the 1st quarter valued at $1,508,000. Eagle Asset Management Inc. lifted its holdings in shares of DexCom by 21.5% during the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after buying an additional 310,728 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of DexCom by 27.0% during the 4th quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock valued at $40,123,000 after buying an additional 68,723 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of DexCom by 164.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after buying an additional 3,672,471 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of DexCom by 62.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 357,033 shares of the medical device company’s stock valued at $49,520,000 after buying an additional 137,336 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DXCM has been the topic of several research analyst reports. Robert W. Baird increased their price target on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price on shares of DexCom in a report on Monday. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Stifel Nicolaus raised their target price on DexCom from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, BTIG Research decreased their target price on DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $112.25.

Insider Activity

In other news, CFO Jereme M. Sylvain sold 745 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $85,712.25. Following the completion of the transaction, the chief financial officer now owns 84,948 shares in the company, valued at $9,773,267.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Bridgette P. Heller sold 1,000 shares of DexCom stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the completion of the transaction, the director now owns 25,349 shares in the company, valued at $2,878,378.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jereme M. Sylvain sold 745 shares of DexCom stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $85,712.25. Following the completion of the transaction, the chief financial officer now owns 84,948 shares of the company’s stock, valued at approximately $9,773,267.40. The disclosure for this sale can be found here. Insiders sold a total of 4,135 shares of company stock worth $446,797 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.

DexCom Price Performance

NASDAQ:DXCM traded down $1.76 on Wednesday, reaching $70.48. 4,051,843 shares of the company’s stock traded hands, compared to its average volume of 3,771,859. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The stock has a 50-day simple moving average of $93.72 and a 200-day simple moving average of $115.56. The firm has a market cap of $28.03 billion, a PE ratio of 45.80, a P/E/G ratio of 2.18 and a beta of 1.16. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. Equities research analysts forecast that DexCom, Inc. will post 1.69 earnings per share for the current 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.