Caisse DE Depot ET Placement DU Quebec Purchases 52,686 Shares of DexCom, Inc. $DXCM

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its stake in DexCom, Inc. by 255.0%, now owning 73,348 shares valued at approximately $5.01 million.
• Several other institutional investors, including Brighton Jones LLC and Northern Trust Corp, have also made substantial investments, with institutional ownership now at 97.75%.
• DexCom recently reported earnings of $0.48 per share, surpassing analysts' expectations, along with a revenue of $1.16 billion, showcasing a 15.2% year-over-year growth.

Caisse DE Depot ET Placement DU Quebec lifted its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 255.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,348 shares of the medical device company's stock after buying an additional 52,686 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in DexCom were worth $5,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Thematics Asset Management grew its stake in shares of DexCom by 22.9% in the first quarter. Thematics Asset Management now owns 315,392 shares of the medical device company's stock valued at $21,538,000 after buying an additional 58,663 shares in the last quarter. Comerica Bank boosted its position in DexCom by 29.2% during the first quarter. Comerica Bank now owns 172,259 shares of the medical device company's stock worth $11,764,000 after purchasing an additional 38,979 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in DexCom during the first quarter worth $1,810,000. Quantitative Investment Management LLC bought a new position in DexCom during the first quarter worth $1,488,000. Finally, Jump Financial LLC boosted its position in DexCom by 3,927.0% during the first quarter. Jump Financial LLC now owns 489,044 shares of the medical device company's stock worth $33,397,000 after purchasing an additional 476,900 shares during the period. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Raymond James Financial lifted their price objective on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Truist Financial assumed coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $106.00 price objective on shares of DexCom in a research report on Friday, August 1st. Finally, Argus assumed coverage on shares of DexCom in a research report on Thursday, August 21st. They set a "buy" rating and a $100.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.89.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $80.29, for a total value of $40,145.00. Following the completion of the transaction, the executive vice president owned 94,102 shares of the company's stock, valued at $7,555,449.58. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $88.99, for a total value of $130,459.34. Following the completion of the transaction, the executive vice president directly owned 106,689 shares of the company's stock, valued at approximately $9,494,254.11. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $1,306,131 in the last ninety days. 0.32% of the stock is owned by company insiders.

DexCom Stock Performance

Shares of DXCM traded down $1.18 during midday trading on Tuesday, reaching $74.17. 2,296,932 shares of the stock were exchanged, compared to its average volume of 3,900,315. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The company has a market cap of $29.08 billion, a P/E ratio of 51.51, a PEG ratio of 1.58 and a beta of 1.48. The stock's 50 day simple moving average is $82.16 and its 200 day simple moving average is $79.31.

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