Congress Asset Management Co. Sells 107,637 Shares of DexCom, Inc. $DXCM

Key Points

• Congress Asset Management Co. decreased its stake in DexCom, Inc. by 9.3% in the 2nd quarter, selling 107,637 shares and holding approximately 1,052,110 shares valued at $91.8 million.
• Multiple institutional investors increased their holdings in DexCom, including Vanguard Group Inc. and Jennison Associates LLC, highlighting strong interest in the company's stock.
• Analysts have raised price targets for DexCom, with an average consensus target of $99.89 and several analysts giving the stock a "buy" or "outperform" rating.

Congress Asset Management Co. lessened its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,052,110 shares of the medical device company's stock after selling 107,637 shares during the period. Congress Asset Management Co. owned about 0.27% of DexCom worth $91,839,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of DexCom by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock valued at $3,240,763,000 after acquiring an additional 925,882 shares during the period. Jennison Associates LLC grew its stake in DexCom by 37.7% in the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DexCom by 22.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company's stock worth $691,336,000 after purchasing an additional 1,868,241 shares in the last quarter. Nuveen LLC bought a new position in DexCom in the first quarter worth about $554,893,000. Finally, Raymond James Financial Inc. lifted its position in shares of DexCom by 21.8% during the first quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company's stock valued at $229,117,000 after buying an additional 601,088 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DexCom

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $81.06, for a total transaction of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares in the company, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the 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 owned 105,223 shares in the company, valued at $8,417,840. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,849 shares of company stock valued at $564,733. 0.32% of the stock is owned by corporate insiders.

DexCom Price Performance

Shares of DXCM opened at $68.30 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The company's fifty day moving average price is $78.61 and its 200-day moving average price is $78.03. The firm has a market capitalization of $26.78 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.48. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Barclays lifted their price target on shares of DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Mizuho raised their price objective on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial assumed coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 target price on the stock. Finally, Piper Sandler increased their price target on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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