Nordea Investment Management AB Boosts Stake in DexCom, Inc. $DXCM

Nordea Investment Management AB increased its position in DexCom, Inc. (NASDAQ:DXCM) by 208.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,329 shares of the medical device company’s stock after purchasing an additional 78,646 shares during the quarter. Nordea Investment Management AB’s holdings in DexCom were worth $7,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of DexCom by 3.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,448 shares of the medical device company’s stock valued at $972,000 after buying an additional 492 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in DexCom by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 973,141 shares of the medical device company’s stock valued at $65,483,000 after acquiring an additional 10,307 shares during the period. First Horizon Corp bought a new stake in DexCom during the third quarter worth about $114,000. MGO One Seven LLC grew its holdings in DexCom by 358.5% in the third quarter. MGO One Seven LLC now owns 18,799 shares of the medical device company’s stock worth $1,265,000 after purchasing an additional 14,699 shares during the period. Finally, Forum Financial Management LP purchased a new stake in DexCom in the third quarter worth about $204,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DXCM shares. Cowen reiterated a “buy” rating on shares of DexCom in a report on Friday, October 24th. Piper Sandler set a $75.00 price objective on DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $82.00 target price on DexCom in a report on Friday, October 31st. Wells Fargo & Company set a $93.00 target price on DexCom and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $92.00 price target on shares of DexCom in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.30.

DexCom Trading Up 0.4%

Shares of NASDAQ:DXCM opened at $69.54 on Friday. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $93.25. The stock’s fifty day moving average price is $65.03 and its 200-day moving average price is $71.64. The company has a market cap of $27.12 billion, a P/E ratio of 38.63, a PEG ratio of 1.25 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.56 and a quick ratio of 1.38.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. DexCom had a return on equity of 30.65% and a net margin of 15.96%.DexCom’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. Sell-side analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $58.07, for a total value of $58,766.84. Following the sale, the director owned 27,031 shares in the company, valued at approximately $1,569,690.17. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jacob Steven Leach bought 18,200 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average price 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 approximately $18,256,602.88. The trade was a 5.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 7,866 shares of company stock worth $448,177 over the last quarter. Company insiders own 0.32% of the company’s stock.

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.