Diversified Trust Co, one of the leading institutional investors in the United States, has recently increased its stake in DexCom, Inc. Such a move indicates that the medical device company is poised for growth and expansion. According to Diversified Trust Co’s SEC filing, it now owns 57,880 shares of DexCom’s stock after adding an additional 1,792 shares during this year’s first quarter. This brings their total worth in DexCom to $6,724,000.
It is no surprise that Diversified Trust Co saw so much potential with DexCom Inc. As a medical device company with innovative products aimed at continuously monitoring glucose levels in people with diabetes and health care providers alike, they are changing the way we understand and treat diabetes on a daily basis.
Dexcom G6 and Dexcom G7 are two of their integrated CGM Systems that have already proven to be life-changing for individuals battling with diabetes by replacing traditional finger stick blood glucose testing. On top of that, they’ve also developed an advanced remote monitoring system called “Dexcom Share” that allows healthcare professionals to monitor patients’ glucose levels remotely—reducing physical appointments’ frequency.
The best part? Dexcom has even opened up a world of opportunities for third-party software developers looking to integrate real-time CGM data into their digital health apps and devices – through its patented Dexcom Real-Time API- resulting in broad application across non-medical devices as well.
As of Monday morning’s trading session at $130.10 per share, DexCom’s market cap is now valued at $50.43 billion – with a year low-high range of $67.74-$134.14 respectively – demonstrating steady progress over time; which can arguably be attributed to its ability to develop groundbreaking products like this without compromising profitability.
In conclusion, as we edge deeper into an age where companies seek ways to deliver innovative medical solutions that are simultaneously financially sound, DexCom seems to have found the perfect balance. As stakeholders observe Dexcom’s stock soar in value over recent period – it’s easy to believe they’re well on their way to reaching impressive heights.
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DexCom Positioned to Capitalize on Growing CGM Market with Impressive Revenue Growth
DexCom, Inc. is a medical device company that specializes in the design, development, and commercialization of continuous glucose monitoring (CGM) systems worldwide. The company’s flagship product is the Dexcom G6 and G7 integrated CGM systems for diabetes management. Additionally, DexCom also provides an array of products and services for healthcare providers.
Recently, a number of research analysts have weighed in on DXCM shares. Morgan Stanley began covering the stock in May 2021, giving it an “equal weight” rating and a $131 price target. StockNews.com initiated coverage on DexCom with a “buy” rating while other analysts have given it a moderate buy rating. With a consensus target price of $126.81 per share according to Bloomberg.com data, there is optimism among investors about this fast-growing market segment.
Many institutional investors have also recently disclosed changes to their positions in the company. James Investment Research Inc., Close Asset Management Ltd., Atlas Capital Advisors LLC, CoreCap Advisors LLC, and Accurate Wealth Management LLC are among those who have acquired new stakes in DexCom ranging from $27K to $37K each. Currently, almost 94% of the company’s outstanding shares are owned by institutional investors.
Dexcom last released its quarterly earnings data on April 27th where it reported revenue at $7.45 billion during that period compared to earlier expectations of just $720 million from analysts’ forecasts; this represents an increase of over 1085% YoY! Additionally, during Q1 2021 earnings call with analysts led by CEO Kevin Sayer announced that the business boasts return on equity (ROE) stood at impressive level amid net margin gaining overthrown by roughly 9.68%. Hence sell-side analysts predict FY21 earning per share may marked as high as $1.06 which makes it look more lucrative from stakeholders’ perspective going forward.
Despite these encouraging developments, the company’s top executives have been selling their shares in recent months. CEO Kevin R. Sayer has sold off over 20k shares that amounted to total transaction $2,382,141.52 on April 3rd. And on Thursday, June 15th, SVP Shelly Ramasamy Selvaraj sold over 2115 shares worth around $274,950 in gross.
The CGM market has grown significantly as more people are diagnosed with diabetes and demand for treatments increases. DexCom is well-positioned to capitalize on this trend and has proven itself as an innovative leader in the industry with its Dexcom G6 and G7 products which have shown impressive revenue growth QoQ and YoY consecutively over past few quarters.
Investors will be keenly watching DexCom’s performance over the coming months to see whether it can continue to build upon this success and deliver long-term value for its shareholders.
