Nordea Investment Management AB Acquires 137,986 Shares of DexCom, Inc. $DXCM

Nordea Investment Management AB increased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 118.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,315 shares of the medical device company’s stock after acquiring an additional 137,986 shares during the quarter. Nordea Investment Management AB owned about 0.07% of DexCom worth $16,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DXCM. Brighton Jones LLC raised its holdings in DexCom by 257.7% in the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after purchasing an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after purchasing an additional 196 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after purchasing an additional 436 shares in the last quarter. Focus Partners Wealth increased its position in shares of DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after buying an additional 841 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of DexCom during the second quarter valued at about $876,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DXCM. Canaccord Genuity Group set a $95.00 price objective on shares of DexCom and gave the stock a “buy” rating in a report on Friday, February 13th. Leerink Partners reissued an “outperform” rating and issued a $92.00 target price on shares of DexCom in a research report on Tuesday, December 16th. Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Tuesday. Truist Financial restated a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $86.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average target price of $86.50.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $64.85, for a total value of $110,245.00. Following the sale, the executive vice president directly owned 112,904 shares of the company’s stock, valued at approximately $7,321,824.40. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $66.60 on Wednesday. The company has a 50 day simple moving average of $70.33 and a two-hundred day simple moving average of $67.83. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a market capitalization of $25.63 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88.

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

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.