Allstate Corp Invests $964,000 in DexCom, Inc. $DXCM

Allstate Corp acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,323 shares of the medical device company’s stock, valued at approximately $964,000.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of DexCom by 2.5% in the 3rd quarter. GAMMA Investing LLC now owns 7,043 shares of the medical device company’s stock worth $474,000 after acquiring an additional 169 shares during the period. Inspire Investing LLC boosted its stake in DexCom by 6.1% during the third quarter. Inspire Investing LLC now owns 3,139 shares of the medical device company’s stock worth $211,000 after buying an additional 180 shares in the last quarter. Inspire Advisors LLC increased its holdings in DexCom by 2.5% in the 3rd quarter. Inspire Advisors LLC now owns 7,926 shares of the medical device company’s stock valued at $533,000 after buying an additional 194 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after buying an additional 196 shares in the last quarter. Finally, STF Management LP lifted its holdings in shares of DexCom by 5.5% during the 2nd quarter. STF Management LP now owns 4,041 shares of the medical device company’s stock worth $353,000 after acquiring an additional 211 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Trading Up 2.0%

Shares of NASDAQ DXCM opened at $72.11 on Thursday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $93.25. The company has a 50-day moving average of $65.83 and a two-hundred day moving average of $71.30. The company has a market cap of $28.12 billion, a PE ratio of 40.06, a P/E/G ratio of 1.27 and a beta of 1.48. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 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 business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. DexCom’s revenue was up 21.6% compared to the same quarter last year. As a group, equities analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $58.07, for a total transaction of $58,766.84. Following the completion of the sale, the director directly owned 27,031 shares of the company’s stock, valued at approximately $1,569,690.17. The trade was a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Alexander Collins sold 2,906 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $59.05, for a total transaction of $171,599.30. Following the completion of the transaction, the director directly owned 35,088 shares in the company, valued at $2,071,946.40. This trade represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,866 shares of company stock worth $448,177 over the last 90 days. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Canaccord Genuity Group set a $99.00 target price on shares of DexCom and gave the company a “buy” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. cut their target price on DexCom from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Piper Sandler set a $75.00 price target on DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. Barclays cut DexCom from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $80.00 to $71.00 in a report on Monday, January 12th. Finally, Citigroup reaffirmed a “buy” rating and issued a $77.00 target price (up previously from $75.00) on shares of DexCom in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and a consensus price target of $86.30.

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.