DexCom, Inc. $DXCM Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP has reduced its stake in DexCom, Inc. by 45.1%, now holding 183,983 shares valued at about $12.56 million.
• DexCom reported an earnings per share (EPS) of $0.48 for the last quarter, exceeding expectations, with a revenue of $1.16 billion, a 15.2% increase from the previous year.
• Stock analysts have shown optimism for DexCom, with multiple firms raising their price targets to as high as $104.00 and maintaining strong buy ratings.

Korea Investment CORP decreased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,983 shares of the medical device company's stock after selling 150,900 shares during the quarter. Korea Investment CORP's holdings in DexCom were worth $12,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DXCM. Golden State Wealth Management LLC raised its position in DexCom by 211.2% during the 1st 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 last quarter. Zions Bancorporation National Association UT purchased a new position in DexCom during the 1st quarter worth $27,000. Optiver Holding B.V. purchased a new position in DexCom during the 4th quarter worth $33,000. Heck Capital Advisors LLC purchased a new position in DexCom during the 4th quarter worth $38,000. Finally, Alpine Bank Wealth Management purchased a new position in DexCom during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

Analysts Set New Price Targets

DXCM has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 price objective for the company. UBS Group upped their price objective on shares of DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Citigroup restated a "buy" rating and set a $102.00 price objective (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Robert W. Baird cut their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Barclays upped their price target on shares of DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, DexCom presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

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 sale, the director directly owned 51,121 shares of the company's stock, valued at approximately $4,143,868.26. This represents a 5.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $88.99, for a total transaction of $130,459.34. Following the completion of the sale, the executive vice president directly owned 106,689 shares in the company, valued at approximately $9,494,254.11. The trade was a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,906 shares of company stock valued at $1,832,451 in the last quarter. Insiders own 0.32% of the company's stock.

DexCom Price Performance

Shares of DXCM traded up $1.64 during trading hours on Friday, reaching $82.26. The company had a trading volume of 3,666,928 shares, compared to its average volume of 4,039,217. The firm has a 50 day simple moving average of $82.81 and a 200-day simple moving average of $79.77. 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 market capitalization of $32.26 billion, a price-to-earnings ratio of 57.13, a PEG ratio of 1.72 and a beta of 1.43. 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 quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. Research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

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.