Banque Pictet & Cie SA Has $7.78 Million Stake in DexCom, Inc. $DXCM

Key Points

• Banque Pictet & Cie SA has reduced its stake in DexCom by 13.9%, owning 89,178 shares valued at approximately $7.78 million after selling 14,375 shares in the second quarter.
• Other institutional investors have increased their stakes in DexCom, with notable increases from Compagnie Lombard Odier SCmA (40.8%) and Covea Finance (32.5%), indicating strong institutional interest in the company.
• DexCom reported earnings of $0.48 per share for the last quarter, surpassing expectations and achieving a revenue increase of 15.2% year-over-year, contributing to a consensus rating of "Moderate Buy" among analysts.

Banque Pictet & Cie SA trimmed its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 13.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,178 shares of the medical device company's stock after selling 14,375 shares during the quarter. Banque Pictet & Cie SA's holdings in DexCom were worth $7,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in DXCM. Public Employees Retirement System of Ohio increased its stake in DexCom by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 122,360 shares of the medical device company's stock valued at $10,681,000 after buying an additional 1,375 shares during the period. Ballentine Partners LLC purchased a new position in shares of DexCom during the 2nd quarter valued at $295,000. Norden Group LLC increased its stake in shares of DexCom by 14.9% in the second quarter. Norden Group LLC now owns 9,791 shares of the medical device company's stock worth $855,000 after acquiring an additional 1,268 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in shares of DexCom by 40.8% in the second quarter. Compagnie Lombard Odier SCmA now owns 183,112 shares of the medical device company's stock worth $15,984,000 after acquiring an additional 53,092 shares during the last quarter. Finally, Covea Finance raised its holdings in shares of DexCom by 32.5% during the second quarter. Covea Finance now owns 111,200 shares of the medical device company's stock worth $9,707,000 after acquiring an additional 27,300 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the completion of the transaction, the executive vice president directly owned 105,223 shares in the company, valued at $8,417,840. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares of the company's stock, valued at $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,849 shares of company stock worth $564,733 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DXCM shares. Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 10th. Argus initiated coverage on DexCom in a report on Thursday, August 21st. They issued a "buy" rating and a $100.00 price objective on the stock. William Blair upgraded shares of DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. The Goldman Sachs Group started coverage on shares of DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price target on the stock. Finally, Truist Financial initiated coverage on shares of DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

DexCom Price Performance

NASDAQ DXCM opened at $68.30 on Friday. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The company has a fifty day simple moving average of $78.61 and a 200 day simple moving average of $78.03. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The company has a market cap of $26.78 billion, a P/E ratio of 47.43, a P/E/G ratio of 1.42 and a beta of 1.48.

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

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.

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