Allstate Corp Buys 14,639 Shares of DexCom, Inc. $DXCM

Allstate Corp lifted its stake in DexCom, Inc. (NASDAQ:DXCM) by 102.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,962 shares of the medical device company’s stock after purchasing an additional 14,639 shares during the quarter. Allstate Corp’s holdings in DexCom were worth $1,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DXCM. CVA Family Office LLC boosted its position in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after purchasing an additional 147 shares in the last quarter. ORG Partners LLC lifted its position in DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 281 shares in the last quarter. Spire Wealth Management lifted its position in DexCom by 113.8% in the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company’s stock valued at $38,000 after acquiring an additional 305 shares in the last quarter. Aventura Private Wealth LLC bought a new position in DexCom in the 4th quarter valued at approximately $43,000. Finally, Rothschild Investment LLC lifted its position in DexCom by 59.9% in the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 245 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Wells Fargo & Company lowered their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Benchmark assumed coverage on DexCom in a research report on Monday, May 11th. They issued a “buy” rating and a $77.00 price objective on the stock. Barclays reaffirmed an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Finally, William Blair raised DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.42.

Insider Activity

In other news, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the completion of the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director 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 position. 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 a total of 32,871 shares of company stock worth $2,306,638 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.

DexCom Price Performance

NASDAQ:DXCM opened at $72.34 on Friday. 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 simple moving average is $64.05 and its two-hundred day simple moving average is $66.39. The stock has a market cap of $27.91 billion, a PE ratio of 30.91, a P/E/G ratio of 1.16 and a beta of 1.40. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98.

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

DexCom Company 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.