DexCom, Inc. $DXCM Stake Boosted by DAVENPORT & Co LLC

DAVENPORT & Co LLC grew its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 55.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,943 shares of the medical device company’s stock after acquiring an additional 24,807 shares during the period. DAVENPORT & Co LLC’s holdings in DexCom were worth $6,105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 264 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of DexCom in the 1st quarter valued at $27,000. Anderson Financial Strategies LLC acquired a new stake in shares of DexCom in the 1st quarter valued at $37,000. Alpine Bank Wealth Management acquired a new stake in shares of DexCom in the 1st quarter valued at $40,000. Finally, Private Trust Co. NA lifted its stake in shares of DexCom by 99.4% in the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company’s stock valued at $46,000 after purchasing an additional 335 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DXCM shares. Robert W. Baird reduced their price objective on shares of DexCom from $112.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Piper Sandler lifted their price objective on shares of DexCom from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DexCom in a research note on Saturday, September 27th. Raymond James Financial lifted their price objective on shares of DexCom from $99.00 to $102.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 31st. Finally, Mizuho lifted their price objective on shares of DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.42.

DexCom Stock Down 0.5%

DexCom stock opened at $66.03 on Wednesday. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 45.85, a P/E/G ratio of 1.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $93.25. The firm has a fifty day moving average price of $75.38 and a two-hundred day moving average price of $77.80.

DexCom (NASDAQ:DXCM) last released its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. As a group, analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other news, Director Kyle Malady sold 667 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the transaction, the director owned 22,667 shares of the company’s stock, valued at approximately $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $80.00, for a total transaction of $117,280.00. Following the transaction, the executive vice president directly owned 105,223 shares of the company’s stock, valued at $8,417,840. This represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,849 shares of company stock worth $564,733 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

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.