Credit Agricole S A Cuts Stake in DexCom, Inc. $DXCM

Key Points

• Credit Agricole S A significantly reduced its stake in DexCom, Inc. by 75.8%, holding 48,134 shares valued at approximately $3.29 million after selling over 150,000 shares in the first quarter.
• Despite the sale, other investors, including Golden State Wealth Management LLC and Stonebridge Financial Group LLC, increased their stakes in DexCom, showing growing interest among institutional investors.
• DexCom reported a quarterly revenue of $1.16 billion, exceeding estimates, and its earnings per share (EPS) of $0.48 surpassed expectations, indicating positive financial performance.

Credit Agricole S A decreased its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 75.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,134 shares of the medical device company's stock after selling 150,997 shares during the period. Credit Agricole S A's holdings in DexCom were worth $3,287,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after purchasing an additional 264 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in DexCom in the 1st quarter worth about $27,000. Optiver Holding B.V. bought a new position in DexCom in the 4th quarter worth about $33,000. Heck Capital Advisors LLC bought a new position in DexCom in the 4th quarter worth about $38,000. Finally, Alpine Bank Wealth Management bought a new position in DexCom during the 1st quarter valued at about $40,000. Institutional investors own 97.75% of the company's stock.

DexCom Stock Performance

DexCom stock traded down $1.29 during midday trading on Thursday, hitting $75.09. The stock had a trading volume of 3,630,905 shares, compared to its average volume of 3,902,226. The firm's fifty day moving average is $82.47 and its two-hundred day moving average is $79.64. The company has a market capitalization of $29.45 billion, a PE ratio of 52.14, a P/E/G ratio of 1.60 and a beta of 1.43. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25. 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 (NASDAQ:DXCM - Get Free Report) last released its earnings results 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 company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. On average, research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the completion of the sale, the executive vice president directly owned 94,102 shares of the company's stock, valued at $7,555,449.58. This trade represents a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the 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 sale, the director directly owned 51,121 shares of the company's stock, valued at approximately $4,143,868.26. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,722 shares of company stock valued at $1,306,131. Corporate insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on DXCM shares. Raymond James Financial upped their target price on shares of DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Barclays upped their target price on shares of DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Oppenheimer upped their target price on shares of DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. UBS Group upped their price target on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen lowered shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Three investment 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 stock currently has a consensus 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.