Fred Alger Management LLC Acquires New Position in DexCom, Inc. $DXCM

Key Points

• Fred Alger Management LLC has made a new investment in DexCom, Inc., purchasing 30,516 shares valued at approximately $2.08 million in the first quarter.
• Several large investors have significantly increased their positions in DexCom, with Stonebridge Financial Group LLC boosting their stake by 944.5%.
• DexCom recently reported a 15.2% year-over-year increase in revenue and beat earnings estimates, showing strong financial performance in the last quarter.

Fred Alger Management LLC acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,516 shares of the medical device company's stock, valued at approximately $2,084,000.

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in DexCom by 257.7% in 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 position in DexCom by 1.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock valued at $8,637,000 after purchasing an additional 2,010 shares in the last quarter. Captrust Financial Advisors raised its position in DexCom by 22.1% during the 4th quarter. Captrust Financial Advisors now owns 28,152 shares of the medical device company's stock valued at $2,189,000 after purchasing an additional 5,101 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of DexCom by 16.8% in the 4th quarter. Cetera Investment Advisers now owns 72,182 shares of the medical device company's stock worth $5,614,000 after purchasing an additional 10,385 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in DexCom during the 4th quarter valued at $496,000. 97.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Nicholas Augustinos sold 3,672 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the sale, the director directly owned 33,411 shares of the company's stock, valued at $2,766,430.80. This trade represents a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the transaction, the director owned 51,121 shares of the company's stock, valued at $4,143,868.26. This represents a 5.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,237 shares of company stock worth $1,263,480 in the last quarter. 0.32% of the stock is currently owned by company insiders.

DexCom Trading Up 0.3%

Shares of NASDAQ:DXCM traded up $0.22 during mid-day trading on Friday, reaching $76.22. The stock had a trading volume of 3,054,556 shares, compared to its average volume of 3,987,928. The firm has a market cap of $29.89 billion, a PE ratio of 52.93, a price-to-earnings-growth ratio of 1.59 and a beta of 1.48. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The firm has a 50 day simple moving average of $80.88 and a two-hundred day simple moving average of $78.72. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) 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 business posted $0.43 earnings per share. DexCom's quarterly revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. On average, research analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Raymond James Financial increased their price objective on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Morgan Stanley lifted their price target on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on shares of DexCom in a report on Friday, May 30th. They set a "buy" rating and a $104.00 price objective on the stock. Finally, Argus began coverage on shares of DexCom in a research note on Thursday, August 21st. They set a "buy" rating and a $100.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

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.