Allspring Global Investments Holdings LLC Sells 173,233 Shares of DexCom, Inc. $DXCM

Key Points

• Allspring Global Investments has reduced its holdings in DexCom, Inc. by 44.9% in the second quarter, now owning approximately 212,361 shares, valued at around $17.7 million.
• Several analysts have assigned a "buy" rating to DexCom, with target prices ranging from $100.00 to $106.00, and a consensus rating of "Moderate Buy" based on recent evaluations.
• Insider transactions included the sale of 2,750 shares by Director Mark G. Foletta, as well as other executives, indicating active trading among company insiders recently.

Allspring Global Investments Holdings LLC decreased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 44.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 212,361 shares of the medical device company's stock after selling 173,233 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of DexCom worth $17,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after buying an additional 264 shares during the period. 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 increased 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 buying an additional 335 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DXCM shares. UBS Group lifted their target price on DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Mizuho lifted 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. William Blair raised DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Piper Sandler lifted their price objective on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $106.00 price objective on shares of DexCom in a research note on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.00.

Insiders Place Their Bets

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the transaction, the director directly owned 51,121 shares of the company's stock, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the business'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 completion of the transaction, the executive vice president directly owned 105,223 shares of the company's stock, valued at approximately $8,417,840. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,849 shares of company stock valued at $564,733 in the last three months. Insiders own 0.32% of the company's stock.

DexCom Stock Up 0.4%

NASDAQ:DXCM opened at $66.60 on Friday. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a market cap of $26.12 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.39 and a beta of 1.47. The stock has a 50-day moving average price of $73.35 and a two-hundred day moving average price of $77.52.

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

DexCom Company 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.

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