AQR Capital Management LLC Purchases 100,824 Shares of DexCom, Inc. $DXCM

Key Points

• AQR Capital Management LLC increased its stake in DexCom, Inc. by 16.6%, owning 709,033 shares valued at approximately $47.36 million as of the end of the first quarter.
• In the same quarter, other institutional investors also boosted their holdings significantly, with Baird Financial Group Inc. increasing its position by 70.9% to own 687,008 shares.
• DexCom reported a 15.2% year-over-year revenue growth, posting $1.16 billion for the quarter and beating earnings estimates with an EPS of $0.48.

AQR Capital Management LLC boosted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 16.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 709,033 shares of the medical device company's stock after purchasing an additional 100,824 shares during the quarter. AQR Capital Management LLC owned about 0.18% of DexCom worth $47,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. 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 acquiring an additional 264 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in DexCom during the first quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in DexCom in the fourth quarter worth $38,000. Alpine Bank Wealth Management acquired a new position in shares of DexCom during the first quarter valued at about $40,000. Finally, Private Trust Co. NA raised its holdings in shares of DexCom by 99.4% during the first 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 period. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Performance

DexCom stock traded up $0.22 during mid-day trading on Friday, reaching $76.22. The company's stock had a trading volume of 3,054,556 shares, compared to its average volume of 3,987,928. The firm's fifty day moving average price is $80.88 and its two-hundred day moving average price is $78.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. The company has a market capitalization of $29.89 billion, a P/E ratio of 52.93, a PEG ratio of 1.59 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted 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. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The business's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity

In other news, Director Nicholas Augustinos sold 3,672 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the sale, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the transaction, the executive vice president owned 94,102 shares of the company's stock, valued at $7,555,449.58. This trade represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,237 shares of company stock valued at $1,263,480. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DXCM. The Goldman Sachs Group began coverage on DexCom in a research note on Friday, May 30th. They issued a "buy" rating and a $104.00 target price for the company. 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. Raymond James Financial boosted their price objective on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Argus began coverage on DexCom in a research report on Thursday, August 21st. They set a "buy" rating and a $100.00 target price on the stock. Finally, Morgan Stanley lifted their price target on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $99.89.

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.