Commerce Bank Makes New $1.42 Million Investment in DexCom, Inc. $DXCM

Commerce Bank purchased a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,120 shares of the medical device company’s stock, valued at approximately $1,422,000.

A number of other large investors have also made changes to their positions in the stock. BOKF NA raised its holdings in DexCom by 175.7% during the fourth quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after purchasing an additional 22,505 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in DexCom in the second quarter valued at $782,000. Stephens Investment Management Group LLC increased its position in shares of DexCom by 21.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock valued at $69,211,000 after buying an additional 181,701 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of DexCom during the 4th quarter worth $3,231,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of DexCom during the 4th quarter worth $1,293,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

DexCom stock opened at $89.16 on Wednesday. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.54 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The firm has a 50 day moving average price of $78.15 and a 200 day moving average price of $71.19. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $92.59.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Sell-side analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other news, Director Mark G. Foletta sold 2,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $85.32, for a total value of $170,640.00. Following the transaction, the director owned 48,852 shares of the company’s stock, valued at approximately $4,168,052.64. This trade represents a 3.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 73,035 shares of company stock worth $5,446,673 over the last three months. 0.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Argus raised their target price on shares of DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Canaccord Genuity Group set a $90.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Monday, August 3rd. Wells Fargo & Company increased their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.71.

DexCom 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.