Varma Mutual Pension Insurance Co Raises Stock Holdings in DexCom, Inc. $DXCM

Varma Mutual Pension Insurance Co boosted its holdings in DexCom, Inc. (NASDAQ:DXCM) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,000 shares of the medical device company’s stock after buying an additional 10,000 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in DexCom were worth $1,327,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Brooktree Capital Management raised its stake in DexCom by 6.6% during the 4th quarter. Brooktree Capital Management now owns 44,657 shares of the medical device company’s stock valued at $2,964,000 after buying an additional 2,777 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in DexCom during the 4th quarter valued at $23,168,000. Horizon Investments LLC raised its stake in DexCom by 16.6% during the 4th quarter. Horizon Investments LLC now owns 14,367 shares of the medical device company’s stock valued at $954,000 after buying an additional 2,043 shares during the last quarter. New York State Teachers Retirement System raised its stake in DexCom by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 302,595 shares of the medical device company’s stock valued at $20,083,000 after buying an additional 2,801 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in DexCom during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $85.00 price target on shares of DexCom in a research report on Monday, March 9th. Wells Fargo & Company reduced their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Citigroup reaffirmed a “buy” rating and set a $79.00 price target (down from $84.00) on shares of DexCom in a research report on Monday. Finally, Canaccord Genuity Group set a $100.00 price target on shares of DexCom and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.50.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total value of $107,168.00. Following the completion of the sale, the executive vice president directly owned 111,204 shares of the company’s stock, valued at approximately $7,010,300.16. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.28% of the company’s stock.

DexCom Trading Down 0.9%

NASDAQ:DXCM opened at $59.48 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The firm has a market capitalization of $22.95 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The business has a fifty day moving average price of $65.60 and a 200-day moving average price of $66.37.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.DexCom’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Sell-side analysts forecast that DexCom, Inc. will post 2.55 EPS for the current 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.