APG Asset Management N.V. Decreases Stake in DexCom, Inc. $DXCM

Key Points

• APG Asset Management N.V. reduced its stake in DexCom, Inc. by 6.7%, selling 16,235 shares and now holding 227,347 shares valued at approximately $14.37 million.
• DexCom reported a Q2 earnings per share (EPS) of $0.48, exceeding estimates of $0.45, with a revenue of $1.16 billion, reflecting a 15.2% increase compared to the same quarter last year.
• Several analysts upgraded their price targets for DexCom, with Mizuho raising theirs to $100.00 and Raymond James increasing theirs to $102.00, indicating strong market confidence in the company's performance.

APG Asset Management N.V. lowered its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,347 shares of the medical device company's stock after selling 16,235 shares during the period. APG Asset Management N.V. owned about 0.06% of DexCom worth $14,373,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of DexCom in the 1st quarter worth approximately $554,893,000. Jennison Associates LLC increased its holdings in DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after buying an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in DexCom by 171.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after acquiring an additional 2,015,971 shares during the period. Federated Hermes Inc. raised its position in DexCom by 2,371.4% in the first quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after acquiring an additional 1,914,019 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of DexCom by 2.0% during 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 during the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Price Performance

Shares of NASDAQ DXCM traded down $1.30 during midday trading on Thursday, reaching $75.08. 5,969,394 shares of the stock traded hands, compared to its average volume of 3,916,761. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The stock has a market capitalization of $29.44 billion, a PE ratio of 52.14, a P/E/G ratio of 1.60 and a beta of 1.43. DexCom, Inc. has a one year low of $57.52 and a one year high of $93.25. The company's 50 day moving average is $82.35 and its 200 day moving average is $79.55.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its 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 firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the business earned $0.43 EPS. The company's quarterly revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Transactions at DexCom

In related news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the sale, the director directly owned 33,411 shares in the company, valued at $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the completion of the sale, the executive vice president owned 94,102 shares of the company's stock, valued at approximately $7,555,449.58. This represents a 0.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,722 shares of company stock worth $1,306,131 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on DXCM. The Goldman Sachs Group assumed coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. Citigroup reissued a "buy" rating and set a $102.00 price target (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Argus began coverage on DexCom in a research note on Thursday, August 21st. They issued a "buy" rating and a $100.00 price objective for the company. Morgan Stanley increased their target price on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Piper Sandler lifted their target price on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

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.