Allstate Corp Boosts Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Allstate Corp increased its position in DexCom, Inc. by 31.9%, owning 15,631 shares valued at $1.07 million as of its latest SEC filing.
• DexCom reported an earnings per share of $0.48 for the last quarter, surpassing analysts' estimates of $0.45 and achieving a revenue of $1.16 billion, up 15.2% from the previous year.
• Institutional investors own approximately 97.75% of DexCom's stock, with several firms significantly increasing their holdings in the first quarter.

Allstate Corp increased its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,631 shares of the medical device company's stock after acquiring an additional 3,781 shares during the quarter. Allstate Corp's holdings in DexCom were worth $1,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in DexCom by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock worth $3,240,763,000 after acquiring an additional 925,882 shares in the last quarter. Jennison Associates LLC increased its holdings in DexCom by 37.7% in the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after acquiring an additional 2,879,489 shares in the last quarter. Nuveen LLC purchased a new stake in DexCom in the 1st quarter worth $554,893,000. Northern Trust Corp grew its holdings in shares of DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after buying an additional 753,857 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of DexCom by 21.8% during the first quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company's stock worth $229,117,000 after buying an additional 601,088 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Transactions at DexCom

In related news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $88.99, for a total transaction of $130,459.34. Following the sale, the executive vice president directly owned 106,689 shares in the company, valued at approximately $9,494,254.11. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,722 shares of company stock valued at $1,306,131. Insiders own 0.32% of the company's stock.

DexCom Trading Down 1.7%

NASDAQ DXCM traded down $1.30 during trading hours on Thursday, reaching $75.08. The company had a trading volume of 5,969,394 shares, compared to its average volume of 3,916,761. The stock has a market capitalization of $29.44 billion, a P/E ratio of 52.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43. 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. The stock has a 50-day moving average of $82.35 and a 200 day moving average of $79.55.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping 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 company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The firm's revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Morgan Stanley upped their target price on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Argus assumed coverage on shares of DexCom in a report on Thursday, August 21st. They set a "buy" rating and a $100.00 target price for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $106.00 target price on shares of DexCom in a report on Friday, August 1st. Finally, Mizuho upped their target price on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and a consensus price target 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.