Gradient Investments LLC Has $23.55 Million Stake in DexCom, Inc. $DXCM

Key Points

• Gradient Investments LLC has reduced its stake in DexCom, Inc. by 4.1%, now holding approximately 0.07% worth $23.5 million.
• Several institutional investors, including Vanguard Group Inc. and Jennison Associates LLC, have increased their holdings in DexCom, indicating a strong interest in the company's stock.
• Wall Street analysts show optimism for DexCom, with an average price target of $99.89 and multiple "strong buy" ratings from various brokerages.

Gradient Investments LLC cut its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,748 shares of the medical device company's stock after selling 11,577 shares during the period. Gradient Investments LLC owned about 0.07% of DexCom worth $23,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Horizon Investments LLC increased its position in shares of DexCom by 2.2% during the first quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company's stock worth $383,000 after purchasing an additional 123 shares in the last quarter. Wedbush Securities Inc. boosted its stake in shares of DexCom by 1.2% during the 1st quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock worth $899,000 after acquiring an additional 157 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its stake in shares of DexCom by 3.2% during the 1st quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock worth $407,000 after acquiring an additional 182 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in DexCom by 3.2% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,019 shares of the medical device company's stock valued at $411,000 after buying an additional 187 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Insider Buying and Selling at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the transaction, the director owned 51,121 shares of the company's stock, valued at $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $88.99, for a total transaction of $130,459.34. Following the sale, the executive vice president directly owned 106,689 shares of the company's stock, valued at approximately $9,494,254.11. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,315 shares of company stock worth $689,431. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial began coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price target on the stock. Barclays raised their target price on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen lowered DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Citigroup reiterated a "buy" rating and issued a $102.00 target price (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $106.00 price target on shares of DexCom in a report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $99.89.

DexCom Stock Up 1.3%

Shares of DexCom stock traded up $0.97 on Tuesday, hitting $76.55. 4,300,479 shares of the company traded hands, compared to its average volume of 4,073,249. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. The company has a 50-day moving average price of $80.58 and a 200 day moving average price of $78.47. The company has a market cap of $30.02 billion, a PE ratio of 53.16, a PEG ratio of 1.58 and a beta of 1.48. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly 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. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The firm's revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

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.