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

CIBC Private Wealth Group LLC grew its holdings in DexCom, Inc. (NASDAQ:DXCM) by 374.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,907,801 shares of the medical device company’s stock after buying an additional 2,294,709 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in DexCom were worth $195,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DXCM. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of DexCom during the 2nd quarter valued at about $26,000. SJS Investment Consulting Inc. increased its stake in DexCom by 4,800.0% in the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 384 shares during the period. Financial Consulate Inc. acquired a new position in DexCom in the third quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in DexCom during the second quarter worth about $45,000. Finally, Sound Income Strategies LLC lifted its stake in DexCom by 83.8% during the third quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock worth $43,000 after purchasing an additional 285 shares during the period. 97.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Morgan Stanley restated an “overweight” rating on shares of DexCom in a research report on Monday, January 12th. 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. Barclays reiterated an “underweight” rating and issued a $72.00 price target (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating on shares of DexCom in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.50.

DexCom Stock Performance

Shares of DexCom stock opened at $67.32 on Wednesday. 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 firm has a 50 day simple moving average of $70.58 and a 200 day simple moving average of $68.22. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The firm has a market cap 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 posted its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Sell-side analysts predict that DexCom, Inc. will post 2.03 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.