Baird Financial Group Inc. Has $46.92 Million Stock Position in DexCom, Inc. $DXCM

Key Points

• Baird Financial Group Inc. increased its position in DexCom, Inc. by 70.9%, acquiring an additional 285,105 shares, bringing its total holdings to 687,008 shares valued at approximately $46.9 million.
• DexCom reported a net margin of 13.29% and a 15.2% increase in revenue year-over-year, with quarterly earnings of $0.48 per share, surpassing expectations.
• Analysts have raised their price targets for DexCom, with Mizuho setting a new target of $100.00, reflecting growing confidence in the company’s future performance.

Baird Financial Group Inc. lifted its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 70.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 687,008 shares of the medical device company's stock after buying an additional 285,105 shares during the period. Baird Financial Group Inc. owned approximately 0.18% of DexCom worth $46,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of DexCom in the 1st quarter valued at approximately $554,893,000. Jennison Associates LLC increased its position 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 valued at $718,632,000 after acquiring an additional 2,879,489 shares during the period. Massachusetts Financial Services Co. MA increased its position in DexCom by 171.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after acquiring an additional 2,015,971 shares during the period. Federated Hermes Inc. lifted its holdings in shares of 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 valued at $136,220,000 after buying an additional 1,914,019 shares during the period. Finally, Vanguard Group Inc. raised its position in DexCom by 2.0% in the first 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. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Stock Up 2.4%

Shares of NASDAQ:DXCM traded up $1.90 on Thursday, reaching $80.82. The company had a trading volume of 3,340,295 shares, compared to its average volume of 3,925,591. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The stock has a 50-day moving average price of $81.78 and a 200 day moving average price of $79.27. The stock has a market capitalization of $31.69 billion, a P/E ratio of 56.12, a P/E/G ratio of 1.58 and a beta of 1.48. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share 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 during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business's quarterly revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. On average, equities analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

DXCM has been the topic of several research reports. Truist Financial started coverage on shares of DexCom in a research report on Monday, June 16th. They issued a "buy" rating and a $102.00 price target on the stock. Oppenheimer lifted their target price on DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group lifted their target price on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Mizuho raised their target price on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler raised their target price on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and an average price target of $99.89.

Insider Buying and Selling

In other news, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $88.99, for a total value of $130,459.34. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of DexCom 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 owned 51,121 shares in the company, valued at $4,143,868.26. The trade was a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $1,306,131 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

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.