Assenagon Asset Management S.A. Has $46.72 Million Holdings in DexCom, Inc. $DXCM

Key Points

• Assenagon Asset Management cut its DexCom stake by 59.7% in the second quarter, selling 1.03 million shares and retaining 693,635 shares valued at approximately $46.7 million. Institutional investors and hedge funds collectively own 97.75% of DXCM.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $88.71. Recent targets range from $90 to $96 among bullish firms, while Barclays maintained an “Underweight” rating with a $64 target.
• DexCom exceeded quarterly expectations, reporting $0.70 in adjusted EPS versus $0.61 expected and $1.31 billion in revenue, up 13.1% year over year. Meanwhile, insiders sold 102,506 shares worth about $7.5 million over the past three months.

Assenagon Asset Management S.A. decreased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 59.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 693,635 shares of the medical device company's stock after selling 1,025,614 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.18% of DexCom worth $46,716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB grew its position in shares of DexCom by 15.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company's stock valued at $77,000 after buying an additional 153 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of DexCom by 1.8% during the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company's stock worth $604,000 after acquiring an additional 172 shares during the last quarter. Essex Financial Services Inc. lifted its stake in shares of DexCom by 5.7% in the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company's stock worth $204,000 after acquiring an additional 175 shares during the period. Keel Point LLC lifted its stake in shares of DexCom by 3.1% in the fourth quarter. Keel Point LLC now owns 6,473 shares of the medical device company's stock worth $430,000 after acquiring an additional 193 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its holdings in DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after acquiring an additional 196 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group set a $96.00 price target on shares of DexCom and gave the stock a "buy" rating in a report on Tuesday, July 28th. Royal Bank Of Canada upped their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Truist Financial set a $93.00 price objective on shares of DexCom and gave the stock a "buy" rating in a research report on Friday, July 31st. Piper Sandler reissued an "overweight" rating and set a $95.00 target price (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Finally, Barclays restated an "underweight" rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.71.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Jon Coleman sold 4,912 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president owned 100,361 shares in the company, valued at approximately $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company's stock, valued at approximately $8,034,969.15. The trade was a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 102,506 shares of company stock worth $7,535,898. Corporate insiders own 0.28% of the company's stock.

DexCom Price Performance

DXCM stock opened at $84.75 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The company's 50-day moving average is $74.42 and its 200-day moving average is $69.73. The stock has a market capitalization of $31.98 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 1.42 and a beta of 1.41. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $87.85.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm's revenue was up 13.1% compared to the same quarter last year. Equities research analysts expect that DexCom, Inc. will post 2.65 EPS for the current fiscal year.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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