Empowered Funds LLC Acquires Shares of 25,177 DexCom, Inc. $DXCM

Empowered Funds LLC bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 25,177 shares of the medical device company’s stock, valued at approximately $1,696,000.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock valued at $727,842,000 after acquiring an additional 42,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in DexCom by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock worth $530,897,000 after purchasing an additional 516,526 shares during the last quarter. Norges Bank bought a new position in DexCom during the fourth quarter worth $483,356,000. Invesco Ltd. boosted its holdings in DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after purchasing an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock worth $207,613,000 after purchasing an additional 220,313 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Performance

DXCM opened at $89.71 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $80.89 and its 200-day moving average is $72.24. The stock has a market cap of $33.85 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts predict that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Activity at DexCom

In other news, insider Kevin R. Sayer sold 26,756 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the sale, the insider directly owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. This represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $88.37, for a total value of $226,669.05. Following the transaction, the executive vice president directly owned 126,043 shares of the company’s stock, valued at approximately $11,138,419.91. The trade was a 1.99% 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. Over the last three months, insiders sold 65,777 shares of company stock worth $4,950,714. 0.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Truist Financial set a $93.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada increased their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. BTIG Research reissued a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on DexCom and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Citigroup reaffirmed a “buy” rating and set a $88.00 target price (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

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.