DexCom, Inc. $DXCM Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its stake in DexCom, Inc. by 15.9% during the 1st quarter, bringing its holdings to 18,050 shares worth approximately $1.23 million.
• Directors Nicholas Augustinos and Mark G. Foletta both sold shares of DexCom, with Augustinos selling 3,672 shares and Foletta selling 2,750 shares, resulting in decreases of 9.90% and 4.63% in their respective positions.
• Analysts maintain a generally optimistic outlook on DexCom, with target prices set as high as $106.00 and a consensus rating of "Moderate Buy."

Cresset Asset Management LLC cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 15.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,050 shares of the medical device company's stock after selling 3,404 shares during the period. Cresset Asset Management LLC's holdings in DexCom were worth $1,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of DexCom by 2.0% during the first quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock valued at $3,240,763,000 after purchasing an additional 925,882 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after purchasing an additional 2,879,489 shares in the last quarter. Nuveen LLC bought a new position in shares of DexCom during the first quarter valued at approximately $554,893,000. Northern Trust Corp boosted its stake in DexCom by 22.2% in the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after acquiring an additional 753,857 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in DexCom by 171.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after acquiring an additional 2,015,971 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark G. Foletta sold 2,750 shares of DexCom 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 completion of the transaction, the director directly owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,722 shares of company stock worth $1,306,131 over the last three months. Corporate insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

DXCM has been the subject of several recent analyst reports. Citigroup restated a "buy" rating and issued a $102.00 target price (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Mizuho raised their price target on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Truist Financial assumed coverage on shares of DexCom in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 price target for the company. William Blair raised shares of DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Finally, Oppenheimer raised their price target on shares of DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Stock Performance

DXCM traded up $0.20 on Tuesday, reaching $76.16. The stock had a trading volume of 822,066 shares, compared to its average volume of 3,873,864. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. 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 business's 50-day moving average price is $82.67 and its two-hundred day moving average price is $79.68. The company has a market cap of $29.86 billion, a P/E ratio of 52.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.43.

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

About DexCom

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.