BlackRock Fund Advisors recently announced the acquisition of new stake in Dexcom Inc (NASDAQ:DXCM). The institutional investor has increased its shareholding in the Healthcare company by 2.23% to 22.02 million shares with purchase of 0.48 million shares. This fresh investment now brings its stake to 5.70% valued currently at $1.96 billion. In addition, Sands Capital Management LLC raised its holdings by 0.56 million to 13.66 million shares. And Capital Research & Management Co has lifted its position by 38.22% or 3.48 million shares – to 12.6 million shares.
With over 4.41 million Dexcom Inc (DXCM) shares trading Tuesday and a closing price of $112.20 on the day, the dollar volume was approximately $494.52 million. The shares have shown a negative half year performance of -1.20% and its price on 11/28/23 lost nearly -1.56%. Currently, there are 386.30M common shares owned by the public and among those 380.81M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for DXCM have a consensus price objective of $124.80. The analysts have set the share’s price value over the next 12 months at a high of $155.00 and a low of $101.00. The average price target is 10.1% above its recent price level and a downside to the estimated low will see the stock lose -11.09% over that period. But an upside of 27.61% will see the stock hit the forecast high price target while median target price for the stock is $125.00.
Insiders at the company have transacted a total of 130 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 472,044 shares. Insider sales of the common stock occurred on 97 occasions, with total insider shares sold totaling 462,403 shares.
The top 3 mutual fund holders in Dexcom Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 12.14 million shares of the company’s stock, all valued at over $1.08 billion. The company bought an additional 69051.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 45385.0 shares to see its total holdings expand to 9.37 million shares valued at over $832.21 million and representing 2.42% of the shares outstanding. Vanguard Mid Cap Index Fund bought 23238.0 shares to bring its total holdings to over 8.81 million shares at a value of $782.52 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.28% of the shares outstanding.
Shares of Dexcom Inc (NASDAQ: DXCM) opened at $113.37, down -$0.61 from a prior closing price of $113.98. However, the script later moved the day high at 113.77, down -1.56%. The company’s stock has a 5-day price change of 2.97% and 11.55% over the past three months. DXCM shares are trading -0.92% year to date (YTD), with the 12-month market performance up to 0.18% higher. It has a 12-month low price of $74.75 and touched a high of $139.55 over the same period. DXCM has an average intraday trading volume of 5.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.45%, 22.18%, and 0.68% respectively.
Institutional ownership of Dexcom Inc (NASDAQ: DXCM) shares accounts for 97.21% of the company’s 386.30M shares outstanding. Mutual fund holders own 37.85%, while other institutional holders and individual stakeholders account for 60.03% and 3.39% respectively.
It has a market capitalization of $43.35B and a beta (3y monthly) value of 1.21. The stock’s trailing 12-month PE ratio is 124.29, while the earnings-per-share (ttm) stands at $0.90. The company has a PEG of 3.66 and a Quick Ratio of 2.50 with the debt-to-equity ratio at 1.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.42% over the week and 3.95% over the month.
Analysts forecast that Dexcom Inc (DXCM) will achieve an EPS of $0.42 for the current quarter, $0.29 for the next quarter and $1.7 for 2024. The lowest estimate earnings-per-share for the quarter is $0.32 while analysts give the company a high EPS estimate of $0.48. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 63.81%, and 19.52% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate Dexcom Inc (DXCM) as a “Strong Buy” at a consensus score of 1.38. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 3 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DXCM, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on May 30, 2023, with the firm’s price target at $131.
