Lord Abbett & CO. LLC Has $1.94 Million Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Lord Abbett & CO. LLC increased its stake in DexCom, Inc. by 188.7%, acquiring 18,567 shares during the first quarter, bringing its total holdings to 28,408 shares valued at approximately $1.94 million.
• Significant institutional interest is noted, with current investors like Nuveen LLC and Jennison Associates LLC making substantial investments in DexCom, which now has 97.75% of its stock owned by institutional investors.
• DexCom reported a positive earnings performance, with a quarterly earnings per share of $0.48, surpassing analysts' expectations, and a revenue growth of 15.2% year-over-year, totaling $1.16 billion.

Lord Abbett & CO. LLC increased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 188.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,408 shares of the medical device company's stock after buying an additional 18,567 shares during the quarter. Lord Abbett & CO. LLC's holdings in DexCom were worth $1,940,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its stake in shares of DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after purchasing an additional 264 shares in the last quarter. Private Trust Co. NA increased its stake in DexCom by 99.4% during the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after buying an additional 335 shares during the period. Farther Finance Advisors LLC raised its position in shares of DexCom by 29.3% during the 1st quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock worth $209,000 after buying an additional 702 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of DexCom by 34.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock worth $357,000 after acquiring an additional 1,333 shares during the period. Finally, Stonebridge Financial Group LLC boosted its stake in DexCom by 944.5% during the 1st quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock valued at $220,000 after purchasing an additional 2,909 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DXCM has been the topic of several recent research reports. Barclays lifted their price target on shares of DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. William Blair raised shares of DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. UBS Group upped their target price on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group restated a "buy" rating and set a $106.00 price target on shares of DexCom in a report on Friday, August 1st. Finally, Piper Sandler upped their target price on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.90.

Insider Buying and Selling at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the transaction, the director owned 56,621 shares of the company's stock, valued at $4,706,903.73. This represents a 4.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the sale, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,906 shares of company stock valued at $2,675,251. 0.32% of the stock is currently owned by corporate insiders.

DexCom Price Performance

NASDAQ:DXCM traded down $1.0930 on Thursday, reaching $80.5770. The stock had a trading volume of 1,368,771 shares, compared to its average volume of 3,865,283. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The company has a market capitalization of $31.60 billion, a P/E ratio of 56.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $82.85 and a 200-day moving average price of $79.97.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. Research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

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.