DexCom, Inc. $DXCM Stake Raised by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC raised its stake in DexCom, Inc. by 55.0% during the second quarter, now holding 69,943 shares valued at approximately $6.1 million.
• DexCom reported $1.16 billion in quarterly revenue, exceeding expectations, and achieved $0.48 earnings per share, beating the consensus estimate by $0.03.
• Institutional investors own 97.75% of DexCom's stock, reflecting strong interest from hedge funds and investment companies in the medical device firm's future prospects.

DAVENPORT & Co LLC increased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 55.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,943 shares of the medical device company's stock after purchasing an additional 24,807 shares during the period. DAVENPORT & Co LLC's holdings in DexCom were worth $6,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 264 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in DexCom during the first quarter worth approximately $27,000. Anderson Financial Strategies LLC bought a new stake in DexCom during the first quarter worth approximately $37,000. Alpine Bank Wealth Management bought a new stake in DexCom during the first quarter worth approximately $40,000. Finally, Private Trust Co. NA raised its holdings in DexCom by 99.4% during 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. Institutional investors own 97.75% of the company's stock.

DexCom Trading Down 0.5%

NASDAQ DXCM opened at $66.03 on Wednesday. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. The stock has a market cap of $25.89 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 1.39 and a beta of 1.47. The firm's 50 day moving average price is $75.38 and its two-hundred day moving average price is $77.80.

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

Insider Activity

In other DexCom news, EVP Michael Jon Brown sold 500 shares of DexCom stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the transaction, the executive vice president directly owned 94,102 shares in the company, valued at approximately $7,555,449.58. The trade was a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,849 shares of company stock valued at $564,733. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial assumed coverage on DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 target price on the stock. The Goldman Sachs Group dropped their price target on DexCom from $104.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of DexCom in a report on Saturday, September 27th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $106.00 price target on shares of DexCom in a report on Monday, September 29th. Finally, Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, DexCom currently has a consensus rating of "Moderate Buy" and an average target price of $97.42.

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.

Want to see what other hedge funds are holding DXCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DexCom, Inc. (NASDAQ:DXCM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.