Fifth Third Bancorp Buys 51,097 Shares of DexCom, Inc. $DXCM

Fifth Third Bancorp grew its stake in DexCom, Inc. (NASDAQ:DXCM) by 206.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,907 shares of the medical device company’s stock after buying an additional 51,097 shares during the quarter. Fifth Third Bancorp’s holdings in DexCom were worth $4,767,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in DexCom in the 4th quarter valued at $483,356,000. AQR Capital Management LLC increased its holdings in DexCom by 597.8% during the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after purchasing an additional 2,658,158 shares in the last quarter. Employees Provident Fund Board bought a new position in DexCom during the 4th quarter worth about $145,352,000. J. Stern & Co. LLP raised its stake in shares of DexCom by 2,114.8% in the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock valued at $106,323,000 after purchasing an additional 1,529,641 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of DexCom by 271.4% in the first quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company’s stock valued at $129,699,000 after purchasing an additional 1,509,219 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Down 1.7%

Shares of DexCom stock opened at $76.65 on Friday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The stock has a market cap of $29.58 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.28 and a beta of 1.45. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $71.16 and its 200-day moving average is $68.73.

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

Insider Buying and Selling

In other DexCom news, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the sale, the director owned 52,852 shares in the company, valued at $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,750 shares of company stock worth $5,163,241 in the last 90 days. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on DXCM. Truist Financial increased their price objective on DexCom from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday. Evercore raised DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Tuesday, March 24th. Robert W. Baird set a $80.00 price target on shares of DexCom in a research note on Friday, May 1st. TD Cowen reiterated a “buy” rating and issued a $95.00 price objective (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. Finally, Wall Street Zen cut shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

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.