Allstate Corp Takes $922,000 Position in DexCom, Inc. (NASDAQ:DXCM)

Allstate Corp acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,850 shares of the medical device company’s stock, valued at approximately $922,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC boosted its stake in shares of DexCom by 0.7% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock worth $1,359,000 after purchasing an additional 118 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of DexCom by 3.4% during the fourth quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock valued at $316,000 after buying an additional 135 shares during the period. Larson Financial Group LLC boosted its position in DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after acquiring an additional 137 shares during the last quarter. Level Four Advisory Services LLC grew its stake in DexCom by 1.1% in the 4th quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company’s stock worth $1,026,000 after acquiring an additional 150 shares during the period. Finally, TD Private Client Wealth LLC raised its holdings in DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

DXCM has been the topic of several analyst reports. Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Cfra Research upgraded DexCom to a “hold” rating in a report on Friday, March 21st. Canaccord Genuity Group increased their price objective on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Morgan Stanley boosted their target price on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Finally, Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.82.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $914,940.00. Following the sale, the executive vice president now directly owns 105,602 shares in the company, valued at $7,432,268.76. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jacob Steven Leach sold 2,634 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the transaction, the chief operating officer now directly owns 268,644 shares in the company, valued at approximately $23,347,850.04. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,009 shares of company stock valued at $8,044,178 in the last quarter. Company insiders own 0.30% of the company’s stock.

DexCom Price Performance

DXCM stock opened at $68.29 on Tuesday. The firm has a market cap of $26.69 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $141.99. The stock has a 50-day simple moving average of $82.00 and a 200-day simple moving average of $77.12.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. On average, equities analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

About DexCom

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.