DexCom, Inc. $DXCM Shares Bought by Comerica Bank

Key Points

• Comerica Bank increased its stake in DexCom, Inc. by 29.2% in the 1st quarter, acquiring an additional 38,979 shares, bringing its total holdings to 172,259 shares valued at approximately $11.76 million.
• DexCom reported a quarterly earnings per share (EPS) of $0.48, exceeding expectations of $0.45, with a 15.2% increase in revenue compared to the previous year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for DexCom, with target prices ranging from $89.00 to $102.00, reflecting positive outlooks on the company's growth prospects.

Comerica Bank grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 29.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,259 shares of the medical device company's stock after buying an additional 38,979 shares during the quarter. Comerica Bank's holdings in DexCom were worth $11,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Horizon Investments LLC grew its stake in shares of DexCom by 2.2% during the first quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company's stock valued at $383,000 after buying an additional 123 shares during the last quarter. Nia Impact Advisors LLC grew its stake in shares of DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock valued at $766,000 after buying an additional 140 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of DexCom by 1.2% during the first quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock valued at $899,000 after buying an additional 157 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its stake in DexCom by 3.2% in the first quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock worth $407,000 after purchasing an additional 182 shares in the last quarter. Finally, Trivium Point Advisory LLC grew its stake in DexCom by 6.1% in the first quarter. Trivium Point Advisory LLC now owns 3,455 shares of the medical device company's stock worth $236,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Stock Up 0.3%

DexCom stock traded up $0.26 during mid-day trading on Friday, reaching $75.34. 2,921,932 shares of the company were exchanged, compared to its average volume of 4,186,415. The business has a fifty day moving average of $82.25 and a 200 day moving average of $79.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. The firm has a market cap of $29.54 billion, a P/E ratio of 52.32, a PEG ratio of 1.58 and a beta of 1.43. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25.

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. 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 analyst estimates of $1.13 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. DexCom's revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. Research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $81.06, for a total transaction of $222,915.00. Following the completion of the sale, the director owned 51,121 shares in the company, valued at approximately $4,143,868.26. This represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $88.99, for a total value of $130,459.34. Following the sale, the executive vice president owned 106,689 shares of the company's stock, valued at approximately $9,494,254.11. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,722 shares of company stock worth $1,306,131. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DXCM. UBS Group increased their price objective on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Mizuho increased their price objective on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 10th. 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 price objective on the stock. Finally, Morgan Stanley increased their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.89.

About DexCom

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.