Covea Finance Purchases 27,300 Shares of DexCom, Inc. $DXCM

Key Points

• Covea Finance increased its stake in DexCom, Inc. by 32.5%, purchasing an additional 27,300 shares to bring their total holding to 111,200 shares valued at $9.7 million.
• Institutional investors control 97.75% of DexCom's stock, with several firms, including Cardinal Capital Management and Assenagon Asset Management, also increasing their stakes during the second quarter.
• DexCom reported a 15.2% year-over-year increase in revenue, achieving $1.16 billion for the quarter, along with exceeding EPS estimates at $0.48 compared to the consensus of $0.45.

Covea Finance boosted its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 32.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,200 shares of the medical device company's stock after acquiring an additional 27,300 shares during the quarter. Covea Finance's holdings in DexCom were worth $9,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DXCM. Cardinal Capital Management grew its stake in shares of DexCom by 3.7% during the second quarter. Cardinal Capital Management now owns 47,272 shares of the medical device company's stock valued at $4,126,000 after buying an additional 1,703 shares during the last quarter. Atle Fund Management AB grew its stake in shares of DexCom by 11.0% during the second quarter. Atle Fund Management AB now owns 50,872 shares of the medical device company's stock valued at $4,441,000 after buying an additional 5,031 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of DexCom by 18.7% during the second quarter. Farther Finance Advisors LLC now owns 3,680 shares of the medical device company's stock valued at $321,000 after buying an additional 580 shares during the last quarter. Phillips Wealth Planners LLC bought a new position in shares of DexCom during the second quarter valued at about $240,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of DexCom by 85.7% during the second quarter. Assenagon Asset Management S.A. now owns 1,208,255 shares of the medical device company's stock valued at $105,469,000 after buying an additional 557,576 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Trading Up 3.1%

NASDAQ:DXCM opened at $69.51 on Tuesday. 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 12 month low of $57.52 and a 12 month high of $93.25. The company has a market cap of $27.26 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. The company has a 50 day simple moving average of $79.59 and a two-hundred day simple moving average of $78.19.

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

Insider Buying and Selling at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction 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 owned 51,121 shares of the company's stock, valued at $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 available at this link. Also, Director Kyle Malady sold 667 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $80.86, for a total transaction of $53,933.62. Following the sale, the director directly owned 22,667 shares of the company's stock, valued at approximately $1,832,853.62. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,315 shares of company stock worth $689,431. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DXCM has been the topic of several recent analyst reports. UBS Group raised their target price on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Canaccord Genuity Group reissued a "buy" rating and issued a $106.00 target price on shares of DexCom in a research note on Friday, August 1st. Argus initiated coverage on DexCom in a research note on Thursday, August 21st. They issued a "buy" rating and a $100.00 target price on the stock. Truist Financial initiated coverage on DexCom in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 target price on the stock. Finally, William Blair raised DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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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