DAVENPORT & Co LLC Buys 6,615 Shares of DexCom, Inc. (NASDAQ:DXCM)

DAVENPORT & Co LLC increased its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 17.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,136 shares of the medical device company's stock after purchasing an additional 6,615 shares during the quarter. DAVENPORT & Co LLC's holdings in DexCom were worth $3,082,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DXCM. Norges Bank bought a new position in DexCom in the 4th quarter worth $385,367,000. Woodline Partners LP bought a new position in DexCom in the 4th quarter worth $63,338,000. Northern Trust Corp raised its holdings in DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after purchasing an additional 753,857 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in DexCom in the 4th quarter worth $41,295,000. Finally, GAMMA Investing LLC raised its holdings in DexCom by 5,951.7% in the 1st quarter. GAMMA Investing LLC now owns 499,746 shares of the medical device company's stock worth $34,128,000 after purchasing an additional 491,488 shares during the period. 97.75% of the stock is owned by institutional investors.

DexCom Trading Down 1.0%

Shares of DexCom stock opened at $82.73 on Friday. The firm has a market cap of $32.44 billion, a price-to-earnings ratio of 61.74, a PEG ratio of 1.77 and a beta of 1.44. The business has a 50-day moving average price of $83.26 and a 200-day moving average price of $79.79. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $117.19.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company's revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In related news, EVP Sadie Stern sold 6,184 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the transaction, the executive vice president owned 109,621 shares of the company's stock, valued at approximately $9,329,843.31. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 10,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total transaction of $842,800.00. Following the completion of the transaction, the executive vice president directly owned 95,602 shares of the company's stock, valued at approximately $8,057,336.56. The trade was a 9.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,190 shares of company stock worth $2,281,732 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays raised their target price on DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Piper Sandler cut their price target on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Truist Financial started coverage on DexCom in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 price target for the company. Canaccord Genuity Group increased their price target on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Mizuho started coverage on DexCom in a research note on Thursday, April 10th. They issued an "outperform" rating and a $85.00 price target for the company. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.50.

DexCom Profile

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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