Alliancebernstein L.P. Decreases Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Alliancebernstein L.P. reduced its stake in DexCom, Inc. by 2.1%, owning approximately $37.1 million worth of shares as of the latest SEC filing.
• Multiple hedge funds have adjusted their positions in DexCom, with Brighton Jones LLC increasing its stake by an impressive 257.7% in the last quarter.
• DexCom reported a 15.2% increase in quarterly revenue year-over-year, with earnings per share of $0.48, surpassing analysts' expectations.

Alliancebernstein L.P. cut its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 543,288 shares of the medical device company's stock after selling 11,876 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of DexCom worth $37,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after buying an additional 264 shares in the last quarter. 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 acquiring an additional 335 shares during the last quarter. Farther Finance Advisors LLC raised its position in DexCom by 29.3% during the 1st quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock valued at $209,000 after purchasing an additional 702 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in DexCom by 34.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock valued at $357,000 after purchasing an additional 1,333 shares during the last quarter. Finally, Stonebridge Financial Group LLC raised its position in shares of DexCom by 944.5% in the 1st quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock worth $220,000 after acquiring an additional 2,909 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Performance

DXCM traded up $0.22 during midday trading on Friday, hitting $76.22. 3,054,556 shares of the company were exchanged, compared to its average volume of 3,987,928. The company's 50 day simple moving average is $80.88 and its 200 day simple moving average is $78.64. The firm has a market capitalization of $29.89 billion, a price-to-earnings ratio of 52.93, a price-to-earnings-growth ratio of 1.59 and a beta of 1.48. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned $0.43 EPS. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity

In related news, EVP Sadie Stern sold 1,466 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $80.00, for a total value of $117,280.00. Following the transaction, the executive vice president directly owned 105,223 shares of the company's stock, valued at approximately $8,417,840. This trade represents a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kyle Malady sold 667 shares of the firm'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 directly owned 22,667 shares in the company, valued at $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,237 shares of company stock worth $1,263,480. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group started coverage on DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price objective for the company. Piper Sandler boosted their price objective on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Canaccord Genuity Group reissued a "buy" rating and issued a $106.00 price objective on shares of DexCom in a research note on Friday, August 1st. Mizuho increased their price objective on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, DexCom has an average rating of "Moderate Buy" and an average target price of $99.89.

DexCom Profile

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.