Fifth Third Bancorp Grows Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Fifth Third Bancorp increased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 31,656 shares of the medical device company’s stock after purchasing an additional 309 shares during the quarter. Fifth Third Bancorp’s holdings in DexCom were worth $2,162,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DXCM. Forvis Mazars Wealth Advisors LLC raised its position in DexCom by 0.7% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock valued at $1,359,000 after purchasing an additional 118 shares during the period. Principal Securities Inc. raised its position in DexCom by 3.4% in the fourth quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock valued at $316,000 after purchasing an additional 135 shares during the period. Larson Financial Group LLC raised its position in DexCom by 40.5% in the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 137 shares during the period. Nia Impact Advisors LLC raised its position in DexCom by 1.4% in the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company’s stock valued at $766,000 after purchasing an additional 140 shares during the period. Finally, Level Four Advisory Services LLC raised its position in DexCom by 1.1% in the fourth quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company’s stock valued at $1,026,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 10,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total transaction of $842,800.00. Following the completion of the sale, the executive vice president now owns 95,602 shares in the company, valued at approximately $8,057,336.56. This represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sadie Stern sold 6,184 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction of $526,320.24. Following the sale, the executive vice president now owns 109,621 shares of the company’s stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,536 shares of company stock valued at $1,393,876 in the last three months. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on DexCom in a research report on Friday, May 30th. They issued a “buy” rating and a $104.00 target price on the stock. Wall Street Zen upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Cfra Research upgraded shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Canaccord Genuity Group boosted their price target on shares of DexCom from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Barclays boosted their price target on shares of DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.32.

DexCom Stock Down 1.0%

Shares of NASDAQ DXCM opened at $81.99 on Friday. The stock has a market cap of $32.15 billion, a PE ratio of 57.34, a price-to-earnings-growth ratio of 2.30 and a beta of 1.46. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $117.91. The business has a 50-day moving average price of $78.50 and a 200 day moving average price of $79.32.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

DexCom Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.