Allstate Corp Takes Position in DexCom, Inc. $DXCM

Allstate Corp acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,323 shares of the medical device company’s stock, valued at approximately $964,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of DexCom by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 48,322,405 shares of the medical device company’s stock worth $4,218,063,000 after buying an additional 866,506 shares during the period. Jennison Associates LLC boosted its stake in DexCom by 9.4% during the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after acquiring an additional 994,300 shares during the last quarter. Geode Capital Management LLC grew its holdings in DexCom by 3.4% during the second quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after purchasing an additional 358,617 shares during the period. Massachusetts Financial Services Co. MA increased its stake in DexCom by 106.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock valued at $576,610,000 after purchasing an additional 3,410,858 shares in the last quarter. Finally, Norges Bank acquired a new stake in DexCom in the second quarter worth $453,279,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insiders Place Their Bets

In other DexCom news, COO Jacob Steven Leach acquired 18,200 shares of DexCom stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $55.04 per share, for a total transaction of $1,001,728.00. Following the purchase, the chief operating officer directly owned 331,697 shares in the company, valued at approximately $18,256,602.88. This represents a 5.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $58.07, for a total value of $58,766.84. Following the completion of the sale, the director directly owned 27,031 shares in the company, valued at approximately $1,569,690.17. This represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,866 shares of company stock valued at $448,177 in the last three months. 0.32% of the stock is currently owned by corporate insiders.

DexCom Trading Up 2.0%

NASDAQ DXCM opened at $72.11 on Thursday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $93.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56. The stock’s 50 day moving average price is $65.83 and its two-hundred day moving average price is $71.30. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 1.27 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. DexCom had a net margin of 15.96% and a return on equity of 30.65%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $0.45 earnings per share. The firm’s revenue was up 21.6% compared to the same quarter last year. As a group, analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on DXCM shares. Citigroup restated a “buy” rating and issued a $77.00 price objective (up previously from $75.00) on shares of DexCom in a research report on Thursday, December 11th. Truist Financial restated a “buy” rating and issued a $82.00 price target (down from $94.00) on shares of DexCom in a report on Monday, November 3rd. Canaccord Genuity Group set a $99.00 price objective on DexCom and gave the company a “buy” rating in a report on Friday, October 31st. BTIG Research lowered their target price on DexCom from $109.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Mizuho raised their target price on shares of DexCom from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.30.

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.