IFM Investors Pty Ltd Has $7.14 Million Stock Position in DexCom, Inc. $DXCM

Key Points

• IFM Investors Pty Ltd increased its stake in DexCom, Inc. by 10.3% during the 2nd quarter, owning 81,812 shares worth around $7.14 million.
• DexCom reported $0.48 earnings per share for the last quarter, surpassing estimates of $0.45, with revenue growing 15.2% year-over-year to $1.16 billion.
• Numerous brokerages have recently issued ratings on DexCom, with UBS raising the target price from $105 to $106 and maintaining a "buy" rating.

IFM Investors Pty Ltd lifted its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 10.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,812 shares of the medical device company's stock after purchasing an additional 7,619 shares during the quarter. IFM Investors Pty Ltd's holdings in DexCom were worth $7,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Baader Bank Aktiengesellschaft purchased a new stake in shares of DexCom in the second quarter worth approximately $393,000. Mn Services Vermogensbeheer B.V. lifted its position in shares of DexCom by 4.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 146,600 shares of the medical device company's stock worth $12,797,000 after purchasing an additional 6,800 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of DexCom by 211.2% in the first 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. Private Trust Co. NA lifted its position in shares of DexCom by 99.4% in the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after purchasing an additional 335 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of DexCom by 29.3% in the first quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock worth $209,000 after purchasing an additional 702 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DXCM shares. Mizuho increased their price target on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on shares of DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 price objective on the stock. William Blair raised shares of DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. Raymond James Financial raised their price objective on shares of DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Argus began coverage on shares of DexCom in a research report on Thursday, August 21st. They set a "buy" rating and a $100.00 price objective on the stock. Three 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $99.89.

DexCom Stock Performance

DXCM stock traded down $0.23 during midday trading on Tuesday, hitting $69.28. 2,160,504 shares of the company traded hands, compared to its average volume of 4,110,610. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $79.59 and a 200-day simple moving average of $78.19. The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 48.12, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, beating 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company 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. As a group, equities research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 1,466 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $80.00, for a total value of $117,280.00. Following the sale, the executive vice president owned 105,223 shares in the company, valued at approximately $8,417,840. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction on Friday, August 15th. The stock was 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 in the company, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,315 shares of company stock worth $689,431. Insiders own 0.32% of the company's stock.

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.