Geneva Capital Management LLC Buys 5,095 Shares of DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Geneva Capital Management LLC increased its stake in DexCom, Inc. by 4.5%, owning a total of 118,072 shares valued at approximately $8 million as of their latest SEC filing.
• Analyst ratings for DexCom indicate an overwhelming preference for the stock, with a consensus rating of "Buy" and target prices ranging from $89.00 to $106.00.
• DexCom reported a 15.2% year-over-year increase in quarterly revenue to $1.16 billion, exceeding analyst forecasts and achieving an earnings per share (EPS) of $0.48, surpassing estimates of $0.45.

Geneva Capital Management LLC raised its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,072 shares of the medical device company's stock after acquiring an additional 5,095 shares during the period. Geneva Capital Management LLC's holdings in DexCom were worth $8,063,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DXCM. Brighton Jones LLC raised its stake in DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in DexCom by 1.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock valued at $8,637,000 after acquiring an additional 2,010 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in DexCom by 16.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,384 shares of the medical device company's stock valued at $1,041,000 after acquiring an additional 1,930 shares in the last quarter. Alliancebernstein L.P. raised its stake in DexCom by 24.1% during the 4th quarter. Alliancebernstein L.P. now owns 555,164 shares of the medical device company's stock valued at $43,175,000 after acquiring an additional 107,916 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of DexCom by 94.5% during the 4th quarter. Huntington National Bank now owns 2,748 shares of the medical device company's stock worth $214,000 after acquiring an additional 1,335 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 6,184 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the transaction, the executive vice president owned 109,621 shares of the company's stock, valued at $9,329,843.31. The trade was a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction on Monday, June 16th. The stock was 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 of the company's stock, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,656 shares of company stock worth $2,412,191 in the last 90 days. Insiders own 0.32% of the company's stock.

DexCom Stock Up 2.9%

Shares of NASDAQ DXCM traded up $2.25 during mid-day trading on Friday, reaching $78.65. The company had a trading volume of 2,252,644 shares, compared to its average volume of 3,907,634. 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 capitalization of $30.84 billion, a PE ratio of 54.62, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43. The stock's 50 day moving average is $83.83 and its 200-day moving average is $80.42.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping 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 business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $0.43 earnings per share. DexCom's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group reissued a "buy" rating and set a $106.00 price objective on shares of DexCom in a research note on Friday, August 1st. Piper Sandler raised their price objective on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Truist Financial assumed coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Wall Street Zen raised DexCom from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, UBS Group raised their price objective on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price 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.