Sectoral Asset Management Inc. Purchases 8,000 Shares of DexCom, Inc. $DXCM

Sectoral Asset Management Inc. raised its position in DexCom, Inc. (NASDAQ:DXCM) by 38.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,700 shares of the medical device company’s stock after buying an additional 8,000 shares during the quarter. DexCom comprises about 1.5% of Sectoral Asset Management Inc.’s portfolio, making the stock its 22nd largest holding. Sectoral Asset Management Inc.’s holdings in DexCom were worth $1,905,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DXCM. Holocene Advisors LP bought a new position in DexCom in the 3rd quarter valued at about $163,964,000. CIBC Private Wealth Group LLC increased its holdings in DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after buying an additional 2,294,709 shares during the period. Vanguard Group Inc. increased its holdings in DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after buying an additional 1,133,638 shares during the period. Intermede Investment Partners Ltd bought a new position in DexCom in the 4th quarter valued at about $60,351,000. Finally, Iron Triangle Partners LP bought a new position in DexCom in the 3rd quarter valued at about $57,196,000. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group set a $82.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Monday, May 18th. Piper Sandler reissued an “overweight” rating on shares of DexCom in a report on Thursday, February 5th. Barclays reissued an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Raymond James Financial set a $81.00 price target on shares of DexCom in a report on Friday, May 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Three equities research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Buying and Selling at DexCom

In other news, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the transaction, the director owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president directly owned 111,204 shares of the company’s stock, valued at $7,010,300.16. The trade was a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,112 shares of company stock valued at $379,990 in the last ninety days. Insiders own 0.28% of the company’s stock.

DexCom Stock Performance

Shares of DexCom stock opened at $72.10 on Monday. The firm’s 50 day moving average is $63.58 and its 200 day moving average is $66.02. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $27.82 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

About DexCom

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.