Fifth Third Bancorp Sells 7,380 Shares of DexCom, Inc. $DXCM

Key Points

• Fifth Third Bancorp reduced its holdings in DexCom by 23.3%, selling 7,380 shares in the second quarter, now owning a total of 24,276 shares valued at approximately $2.12 million.
• Institutional investors own 97.75% of DexCom’s stock, with notable increases in holdings from firms like Vanguard Group and Jennison Associates.
• DexCom's recent earnings report showed an EPS of $0.48, exceeding expectations, with a revenue of $1.16 billion, reflecting a 15.2% increase compared to the previous year.

Fifth Third Bancorp trimmed its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 23.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,276 shares of the medical device company's stock after selling 7,380 shares during the quarter. Fifth Third Bancorp's holdings in DexCom were worth $2,119,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of DexCom by 2.0% in 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 buying an additional 925,882 shares during the last quarter. Jennison Associates LLC raised its holdings in DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DexCom by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company's stock worth $691,336,000 after purchasing an additional 1,868,241 shares during the last quarter. Nuveen LLC bought a new stake in DexCom during the 1st quarter worth about $554,893,000. Finally, Raymond James Financial Inc. raised its holdings in DexCom by 21.8% during the 1st quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company's stock worth $229,117,000 after purchasing an additional 601,088 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other DexCom news, Director Kyle Malady sold 667 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the transaction, the director owned 22,667 shares of the company's stock, valued at $1,832,853.62. This represents a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total value of $117,280.00. Following the transaction, the executive vice president directly owned 105,223 shares of the company's stock, valued at approximately $8,417,840. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,849 shares of company stock valued at $564,733 over the last 90 days. 0.32% of the stock is owned by company insiders.

DexCom Price Performance

DexCom stock opened at $67.10 on Friday. 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 has a 50-day moving average of $78.27 and a 200-day moving average of $78.06. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The firm has a market capitalization of $26.31 billion, a P/E ratio of 46.60, a PEG ratio of 1.41 and a beta of 1.48.

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

Analyst Ratings Changes

Several analysts have weighed in on DXCM shares. Argus started coverage on DexCom in a report on Thursday, August 21st. They set a "buy" rating and a $100.00 price objective for the company. Raymond James Financial boosted their price objective on DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Oppenheimer cut DexCom from an "outperform" rating to a "market perform" rating in a report on Monday, September 8th. Finally, William Blair upgraded DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and an average target price of $99.11.

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.

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.