CIBC Asset Management Inc Buys 35,824 Shares of DexCom, Inc. $DXCM

CIBC Asset Management Inc lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 29.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,185 shares of the medical device company’s stock after purchasing an additional 35,824 shares during the period. CIBC Asset Management Inc’s holdings in DexCom were worth $10,510,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DXCM. Andra AP fonden bought a new position in DexCom in the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in DexCom in the 2nd quarter valued at $26,000. SJS Investment Consulting Inc. increased its stake in shares of DexCom by 4,800.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after buying an additional 384 shares during the period. Financial Consulate Inc. acquired a new stake in shares of DexCom in the 3rd quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DexCom during the second quarter worth $45,000. 97.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DXCM. TD Cowen decreased their price target on DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Wells Fargo & Company set a $93.00 price target on shares of DexCom and gave the stock an “overweight” rating in a research report on Friday, October 31st. Piper Sandler set a $75.00 price objective on shares of DexCom and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Argus reduced their price objective on shares of DexCom from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.30.

Insider Buying and Selling at DexCom

In other news, Director Richard Alexander Collins sold 3,948 shares of DexCom stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $55.17, for a total transaction of $217,811.16. Following the transaction, the director owned 37,994 shares in the company, valued at $2,096,128.98. The trade was a 9.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jacob Steven Leach bought 18,200 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $55.04 per share, with a total value of $1,001,728.00. Following the completion of the purchase, the chief operating officer owned 331,697 shares in the company, valued at $18,256,602.88. This represents a 5.81% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 7,866 shares of company stock valued at $448,177. Company insiders own 0.32% of the company’s stock.

DexCom Trading Up 0.7%

DXCM opened at $73.34 on Tuesday. The firm’s fifty day moving average is $66.71 and its two-hundred day moving average is $70.98. 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 firm has a market cap of $28.60 billion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 1.31 and a beta of 1.48. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $93.25.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The firm’s revenue was up 21.6% on a year-over-year basis. Equities research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

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.