CIBC Private Wealth Group LLC Acquires 2,294,709 Shares of DexCom, Inc. $DXCM

CIBC Private Wealth Group LLC raised its holdings in DexCom, Inc. (NASDAQ:DXCM) by 374.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,907,801 shares of the medical device company’s stock after acquiring an additional 2,294,709 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.75% of DexCom worth $195,666,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in DexCom by 260.7% during the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after buying an additional 2,762,504 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of DexCom by 400.2% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after acquiring an additional 62,000 shares in the last quarter. Zevenbergen Capital Investments LLC boosted its stake in shares of DexCom by 10.0% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock worth $46,123,000 after acquiring an additional 62,098 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of DexCom by 11.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after acquiring an additional 21,352 shares during the last quarter. Finally, NEOS Investment Management LLC increased its holdings 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 acquiring an additional 65,066 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Stock Up 1.5%

Shares of DXCM opened at $67.32 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The company has a 50-day simple moving average of $70.58 and a 200-day simple moving average of $68.22. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The firm has a market capitalization of $25.91 billion, a P/E ratio of 32.06, a P/E/G ratio of 1.29 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. On average, equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $80.00 target price (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Canaccord Genuity Group set a $95.00 price target on DexCom and gave the company a “buy” rating in a report on Friday, February 13th. Wells Fargo & Company reduced their price objective on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Citigroup upped their price objective on shares of DexCom from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Finally, Mizuho raised their target price on shares of DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average price target of $85.50.

DexCom 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.