Ethic Inc. Acquires 6,294 Shares of DexCom, Inc. $DXCM

Key Points

• Ethic Inc. increased its holdings in DexCom, Inc. by 15.3% during Q1, owning a total of 47,452 shares valued at approximately $3.19 million.
• Notable increases in holdings have been reported by several institutional investors, including Golden State Wealth Management, which raised its stake by 211.2%.
• DexCom recently reported a quarterly earnings per share of $0.48, exceeding analyst expectations and indicating a 15.2% increase in revenue year-over-year.

Ethic Inc. lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,452 shares of the medical device company's stock after purchasing an additional 6,294 shares during the quarter. Ethic Inc.'s holdings in DexCom were worth $3,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DXCM. Nuveen LLC purchased a new position in DexCom during the first quarter worth about $554,893,000. Jennison Associates LLC grew its position in DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after buying an additional 2,879,489 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of DexCom by 171.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after purchasing an additional 2,015,971 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of DexCom by 2,371.4% in the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after purchasing an additional 1,914,019 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of DexCom by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock worth $3,240,763,000 after purchasing an additional 925,882 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Performance

DXCM traded up $0.5290 during midday trading on Friday, reaching $81.1490. The company had a trading volume of 803,211 shares, compared to its average volume of 3,859,574. The business has a 50-day moving average of $82.81 and a two-hundred day moving average of $79.93. 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, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The company has a market cap of $31.82 billion, a P/E ratio of 56.42, a P/E/G ratio of 1.71 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last released its 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 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 analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.43 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Michael Jon Brown sold 500 shares of DexCom stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $304,041.60. Following the transaction, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,906 shares of company stock worth $1,832,451 in the last quarter. Corporate insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DXCM. Morgan Stanley upped their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $106.00 price target on shares of DexCom in a research report on Friday, August 1st. 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. Piper Sandler raised their target price on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Mizuho raised their price objective on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $99.90.

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.