Concurrent Investment Advisors LLC Purchases Shares of 4,262 DexCom, Inc. $DXCM

Key Points

• Concurrent Investment Advisors LLC acquired 4,262 shares of DexCom, Inc., valued at approximately $372,000, during the second quarter, reflecting ongoing interest from institutional investors in the medical device company.
• DexCom reported a quarterly earnings per share (EPS) of $0.48, exceeding analysts' estimates, accompanied by a revenue of $1.16 billion, demonstrating a 15.2% year-over-year growth.
• The stock currently holds a market capitalization of $26.12 billion and has seen varying target price adjustments from analysts, with a consensus target price of $97.00.

Concurrent Investment Advisors LLC bought a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,262 shares of the medical device company's stock, valued at approximately $372,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC increased its holdings 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 worth $383,000 after buying an additional 123 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of DexCom by 1.2% in the 1st quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock worth $899,000 after acquiring an additional 157 shares in the last quarter. Argonautica Private Wealth Management Inc. grew its position in DexCom by 3.2% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock worth $407,000 after acquiring an additional 182 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in DexCom by 3.2% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,019 shares of the medical device company's stock valued at $411,000 after purchasing an additional 187 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after purchasing an additional 196 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $66.60 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The stock has a market capitalization of $26.12 billion, a P/E ratio of 46.25, a P/E/G ratio of 1.40 and a beta of 1.47. The business has a 50-day moving average price of $73.35 and a two-hundred day moving average price of $77.58.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. DexCom's revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. Equities analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DXCM. Robert W. Baird decreased their target price on DexCom from $112.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of DexCom in a research report on Wednesday, October 8th. The Goldman Sachs Group decreased their price objective on shares of DexCom from $104.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. Truist Financial lowered their price objective on shares of DexCom from $102.00 to $94.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Morgan Stanley boosted their target price on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and a consensus target price of $97.00.

Insider Buying and Selling at DexCom

In related news, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction 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 sale, the executive vice president directly owned 105,223 shares of the company's stock, valued at $8,417,840. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark G. Foletta sold 2,750 shares of the company's stock in a transaction dated 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 owned 51,121 shares of the company's stock, valued at $4,143,868.26. This represents a 5.10% decrease in their position. 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 insiders.

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.

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