CIBC Asset Management Inc Grows Position in DexCom, Inc. $DXCM

CIBC Asset Management Inc grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 36.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,363 shares of the medical device company’s stock after buying an additional 57,178 shares during the period. CIBC Asset Management Inc’s holdings in DexCom were worth $14,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trust Co. of Vermont grew its stake in shares of DexCom by 14.8% in the fourth quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company’s stock worth $74,000 after acquiring an additional 145 shares during the last quarter. CVA Family Office LLC grew its stake in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after acquiring an additional 147 shares during the period. IFP Advisors Inc grew its position in DexCom by 24.7% in the 3rd quarter. IFP Advisors Inc now owns 900 shares of the medical device company’s stock worth $61,000 after purchasing an additional 178 shares during the period. Personal CFO Solutions LLC increased its position in DexCom by 5.0% during the third quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company’s stock valued at $260,000 after acquiring an additional 185 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position 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 during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $59.91, for a total value of $101,847.00. Following the completion of the transaction, the executive vice president owned 109,504 shares of the company’s stock, valued at $6,560,384.64. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the sale, the insider owned 382,482 shares of the company’s stock, valued at $27,538,704. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 32,871 shares of company stock worth $2,306,638. Corporate insiders own 0.28% of the company’s stock.

DexCom Stock Performance

DXCM opened at $72.59 on Friday. The firm has a market cap of $28.01 billion, a P/E ratio of 31.02, a PEG ratio of 1.14 and a beta of 1.45. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The company has a 50 day simple moving average of $64.71 and a two-hundred day simple moving average of $66.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Tuesday, March 24th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research note on Friday, May 1st. Citigroup reaffirmed a “buy” rating and issued a $84.00 target price (up from $79.00) on shares of DexCom in a report on Thursday, May 28th. Truist Financial reiterated a “buy” rating and set a $80.00 target price (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Finally, Benchmark assumed coverage on DexCom in a report on Monday, May 11th. They set a “buy” rating and a $77.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.42.

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.