DexCom, Inc. $DXCM Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its DexCom stake by 60.9% in the third quarter, selling 422,285 shares and retaining 271,350 shares worth approximately $23.4 million. Institutional investors and hedge funds collectively own 97.75% of DXCM.
• DexCom reported quarterly earnings of $0.70 per share, exceeding estimates of $0.61, while revenue rose 13.1% year over year to $1.31 billion. The stock opened at $86.04, with a 12-month range of $54.11 to $92.59.
• Analysts remain broadly bullish, with DexCom carrying an average “Buy” rating and a $92.43 price target; several firms recently raised targets to between $95 and $105. Insiders, however, sold 22,557 shares valued at roughly $1.9 million during the quarter.

Assenagon Asset Management S.A. reduced its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 60.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 271,350 shares of the medical device company's stock after selling 422,285 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of DexCom worth $23,415,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DXCM. Mather Group LLC. lifted its position in DexCom by 27.7% in the third quarter. Mather Group LLC. now owns 563 shares of the medical device company's stock worth $49,000 after buying an additional 122 shares during the last quarter. Elevation Wealth Partners LLC increased its position in DexCom by 61.0% during the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company's stock valued at $35,000 after acquiring an additional 152 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in DexCom by 15.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company's stock valued at $77,000 after acquiring an additional 153 shares during the last quarter. V Square Quantitative Management LLC increased its position in DexCom by 1.8% during the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company's stock valued at $604,000 after acquiring an additional 172 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its stake in DexCom by 5.7% in the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company's stock worth $204,000 after purchasing an additional 175 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Performance

NASDAQ:DXCM opened at $86.04 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59. The company has a market capitalization of $32.47 billion, a P/E ratio of 34.01, a PEG ratio of 1.44 and a beta of 1.48. The firm has a fifty day simple moving average of $87.61 and a 200-day simple moving average of $75.96.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities research analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other news, Director Nicholas Augustinos sold 6,539 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the sale, the director owned 29,293 shares of the company's stock, valued at $2,461,783.72. This represents a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $83.27, for a total transaction of $302,936.26. Following the sale, the executive vice president directly owned 146,828 shares of the company's stock, valued at approximately $12,226,367.56. This represents a 2.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 22,557 shares of company stock valued at $1,903,857. Insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DXCM. Truist Financial set a $102.00 price target on shares of DexCom and gave the stock a "buy" rating in a research note on Friday, September 18th. Piper Sandler reiterated an "overweight" rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Royal Bank Of Canada reissued an "outperform" rating and issued a $105.00 price objective (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. Mizuho set a $100.00 price objective on DexCom in a report on Tuesday, October 13th. Finally, Wells Fargo & Company lifted their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, DexCom presently has an average rating of "Buy" and an average price target of $92.43.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.

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