Corebridge Financial Inc. Has $8.89 Million Position in DexCom, Inc. $DXCM

Key Points

• Corebridge Financial Inc. reduced its stake in DexCom, Inc. by 3.6%, owning 130,184 shares valued at approximately $8.89 million by the end of the first quarter.
• Despite Corebridge's decrease, other investors increased their holdings, with Golden State Wealth Management LLC boosting its position by 211.2% during the same period.
• DexCom recently reported better-than-expected earnings, with an EPS of $0.48 surpassing estimates, and a 15.2% revenue growth from the previous year.

Corebridge Financial Inc. lessened its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,184 shares of the medical device company's stock after selling 4,815 shares during the quarter. Corebridge Financial Inc.'s holdings in DexCom were worth $8,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DXCM. Nuveen LLC bought a new position in shares of DexCom during the 1st quarter worth $554,893,000. Jennison Associates LLC grew its stake in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after acquiring an additional 2,879,489 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of DexCom by 171.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after acquiring an additional 2,015,971 shares during the period. Federated Hermes Inc. grew its stake in shares of DexCom by 2,371.4% during the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after acquiring an additional 1,914,019 shares during the period. Finally, Vanguard Group Inc. boosted its stake in DexCom by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock worth $3,240,763,000 after purchasing an additional 925,882 shares during the period. Institutional investors own 97.75% of the company's stock.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the transaction, the director owned 51,121 shares in the company, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 in the company, valued at approximately $7,555,449.58. This trade represents a 0.53% 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 three months. Company insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 10th. Mizuho raised their target price on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a "buy" rating and issued a $102.00 price target (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Piper Sandler raised their price target on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Barclays raised their price target on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Price Performance

Shares of DXCM traded up $0.26 during mid-day trading on Monday, hitting $75.34. The company's stock had a trading volume of 2,921,932 shares, compared to its average volume of 4,070,578. 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 firm has a 50-day simple moving average of $82.25 and a 200 day simple moving average of $79.41. The firm has a market capitalization of $29.54 billion, a P/E ratio of 52.32, a P/E/G ratio of 1.58 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 issued 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. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.DexCom's revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. Analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.