Nordea Investment Management AB Increases Stake in DexCom, Inc. $DXCM

Nordea Investment Management AB raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 118.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,315 shares of the medical device company’s stock after purchasing an additional 137,986 shares during the quarter. Nordea Investment Management AB’s holdings in DexCom were worth $16,988,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of DexCom during the second quarter valued at approximately $26,000. SJS Investment Consulting Inc. raised its holdings in DexCom by 4,800.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after acquiring an additional 384 shares during the last quarter. Financial Consulate Inc. bought a new position in DexCom in the 3rd quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in DexCom in the 2nd quarter valued at approximately $45,000. Finally, Sound Income Strategies LLC boosted its stake in DexCom by 83.8% during the 3rd quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 285 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Trading Up 1.0%

Shares of DexCom stock opened at $66.60 on Wednesday. The stock has a market capitalization of $25.63 billion, a PE 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 current ratio of 1.88 and a quick ratio of 1.59. The company’s fifty day simple moving average is $70.33 and its 200-day simple moving average is $67.83. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98.

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. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, equities analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.85, for a total value of $110,245.00. Following the completion of the transaction, the executive vice president owned 112,904 shares of the company’s stock, valued at approximately $7,321,824.40. This represents a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $86.00 target price (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Mizuho increased their price objective on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Evercore raised DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Tuesday. Finally, Truist Financial restated a “buy” rating and set a $80.00 target price (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.50.

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.