DexCom, Inc. $DXCM Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its stake in DexCom, Inc. by 25.5%, owning approximately 0.15% of the company, valued at $38.99 million after selling 195,619 shares.
• In the latest quarter, DexCom reported earnings per share of $0.48, exceeding analysts' expectations of $0.45, with revenues reaching $1.16 billion.
• Analysts have generally maintained a positive outlook on DexCom, with ratings including multiple "buy" ratings and a consensus price target of $99.89.

Canada Pension Plan Investment Board decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 25.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 570,947 shares of the medical device company's stock after selling 195,619 shares during the period. Canada Pension Plan Investment Board owned 0.15% of DexCom worth $38,990,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after buying an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of DexCom during the 1st quarter worth about $27,000. Heck Capital Advisors LLC acquired a new stake in shares of DexCom in the fourth quarter worth approximately $38,000. Alpine Bank Wealth Management acquired a new stake in shares of DexCom in the first quarter worth approximately $40,000. Finally, Private Trust Co. NA grew its holdings in DexCom by 99.4% in the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Stock Up 2.2%

NASDAQ:DXCM traded up $1.76 on Thursday, reaching $80.68. The stock had a trading volume of 2,765,637 shares, compared to its average volume of 3,922,363. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $81.78 and a 200 day moving average of $79.27. The stock has a market cap of $31.64 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25.

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

Insiders Place Their Bets

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $83.13, for a total transaction of $228,607.50. Following the transaction, the director directly owned 56,621 shares in the company, valued at $4,706,903.73. This represents a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction dated Friday, August 15th. The stock was 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. The trade was a 0.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,722 shares of company stock valued at $1,306,131. Corporate insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Barclays boosted their price target on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Mizuho lifted their price objective on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial began coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Finally, William Blair upgraded shares of DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Company 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.