Ieq Capital LLC Grows Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Ieq Capital LLC increased its holdings in DexCom, Inc. by 21.7%, acquiring an additional 11,437 shares during the first quarter, bringing their total to 64,181 shares valued at approximately $4.38 million.
• Several institutional investors have made adjustments to their positions in DexCom, with 97.75% of the company’s stock currently owned by institutional investors.
• The latest earnings report revealed that DexCom recorded $0.48 earnings per share, surpassing the consensus estimate, with a revenue increase of 15.2% year-over-year.

Ieq Capital LLC boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 21.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,181 shares of the medical device company's stock after buying an additional 11,437 shares during the quarter. Ieq Capital LLC's holdings in DexCom were worth $4,383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Nuveen LLC bought a new stake in shares of DexCom in the 1st quarter valued at about $554,893,000. Jennison Associates LLC grew its holdings 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 buying an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 worth $218,175,000 after purchasing an additional 2,015,971 shares during the last quarter. Federated Hermes Inc. lifted its stake in DexCom by 2,371.4% during the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock valued at $136,220,000 after acquiring an additional 1,914,019 shares during the period. Finally, Vanguard Group Inc. grew its position in DexCom by 2.0% during 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 during the period. Institutional investors own 97.75% of the company's stock.

Insiders Place Their Bets

In other DexCom news, EVP Sadie Stern sold 1,466 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $88.99, for a total transaction of $130,459.34. Following the completion of the sale, the executive vice president owned 106,689 shares of the company's stock, valued at $9,494,254.11. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Jon Brown sold 500 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $80.29, for a total value of $40,145.00. Following the sale, the executive vice president directly owned 94,102 shares of the company's stock, valued at approximately $7,555,449.58. This trade represents a 0.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $1,306,131 in the last three months. 0.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several analyst reports. Barclays boosted their price objective on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen lowered DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Mizuho lifted their target price on shares of DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Argus started coverage on shares of DexCom in a report on Thursday, August 21st. They set a "buy" rating and a $100.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.89.

DexCom Trading Up 5.8%

NASDAQ DXCM traded up $4.34 on Wednesday, reaching $78.64. 4,892,144 shares of the company were exchanged, compared to its average volume of 3,918,077. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $93.25. The stock has a market capitalization of $30.84 billion, a P/E ratio of 54.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. The business's fifty day moving average price is $81.90 and its 200 day moving average price is $79.28. 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 posted its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating 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 business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The business's revenue for the quarter was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. 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.