Russell Investments Group Ltd. Has $14.09 Million Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Posted by Defense World Staff on May 11th, 2023

Russell Investments Group Ltd. boosted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 45.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,875 shares of the medical device company’s stock after buying an additional 39,295 shares during the quarter. Russell Investments Group Ltd.’s holdings in DexCom were worth $14,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DXCM. Mirae Asset Global Investments Co. Ltd. increased its position in DexCom by 31.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,999 shares of the medical device company’s stock worth $138,643,000 after buying an additional 65,516 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of DexCom by 3,596.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,109 shares of the medical device company’s stock worth $567,000 after acquiring an additional 1,079 shares during the period. West Family Investments Inc. bought a new stake in shares of DexCom during the first quarter worth approximately $209,000. Ergoteles LLC boosted its holdings in shares of DexCom by 60.6% during the first quarter. Ergoteles LLC now owns 1,681 shares of the medical device company’s stock worth $860,000 after acquiring an additional 634 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of DexCom by 26.4% during the first quarter. Mackenzie Financial Corp now owns 29,516 shares of the medical device company’s stock worth $15,100,000 after acquiring an additional 6,160 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded DexCom from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Cowen boosted their price objective on DexCom from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, February 10th. Stifel Nicolaus boosted their price objective on DexCom from $130.00 to $140.00 in a report on Friday, April 28th. Barclays boosted their price target on DexCom from $110.00 to $115.00 in a research note on Monday, May 1st. Finally, BTIG Research boosted their price target on DexCom from $132.00 to $134.00 in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $126.81.

DexCom Stock Up 2.4 %

Shares of NASDAQ:DXCM opened at $122.57 on Thursday. The company has a fifty day moving average of $116.94 and a 200-day moving average of $113.95. The company has a market capitalization of $47.51 billion, a PE ratio of 175.10 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.82 and a current ratio of 2.02. DexCom, Inc. has a 52-week low of $66.89 and a 52-week high of $126.44.

DexCom (NASDAQ:DXCM – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $720.52 million. DexCom had a net margin of 9.68% and a return on equity of 18.29%. The company’s revenue for the quarter was up 1085.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. On average, equities analysts predict that DexCom, Inc. will post 1.06 EPS for the current fiscal year.

Insider Activity at DexCom

In related news, CEO Kevin R. Sayer sold 38,464 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $109.94, for a total value of $4,228,732.16. Following the completion of the sale, the chief executive officer now directly owns 331,337 shares in the company, valued at $36,427,189.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Matthew Vincent Dolan sold 226 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $114.40, for a total transaction of $25,854.40. Following the transaction, the senior vice president now owns 26,536 shares of the company’s stock, valued at approximately $3,035,718.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin R. Sayer sold 38,464 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $109.94, for a total transaction of $4,228,732.16. Following the transaction, the chief executive officer now directly owns 331,337 shares in the company, valued at approximately $36,427,189.78. The disclosure for this sale can be found here. Insiders sold 141,835 shares of company stock worth $16,433,574 over the last three months. Company insiders own 0.41% of the company’s stock.

About DexCom

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DexCom, Inc is a medical device manufacturing company, which engages in the design, development and commercialization of glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G6 CGM System, DexCom G6 CGM System for Medicare, Software and Mobile apps. The company was founded by John F.