Mirae Asset Global Investments Co. Ltd. Has $16.65 Million Stock Position in DexCom, Inc. $DXCM

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in DexCom, Inc. by 6.8%, owning 190,693 shares worth approximately $16.65 million at the end of the second quarter.
• DexCom's earnings report showed a 15.2% year-over-year revenue increase, achieving $1.16 billion in revenue and surpassing earnings estimates with $0.48 earnings per share.
• Research analysts largely rate DexCom as a Moderate Buy, with a consensus price target of $98.32 and multiple upgrades set by various investment firms.

Mirae Asset Global Investments Co. Ltd. raised its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190,693 shares of the medical device company's stock after buying an additional 12,155 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in DexCom were worth $16,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of DexCom in the 1st quarter worth approximately $554,893,000. Jennison Associates LLC lifted its position in shares of DexCom by 37.7% in the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after acquiring an additional 2,879,489 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 acquiring an additional 2,015,971 shares during the period. Federated Hermes Inc. lifted its position 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 acquiring an additional 1,914,019 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DexCom by 22.6% in 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 acquiring an additional 1,868,241 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Stock Up 0.9%

Shares of DexCom stock opened at $67.05 on Friday. 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 12 month low of $57.52 and a 12 month high of $93.25. The business has a fifty day simple moving average of $76.31 and a 200 day simple moving average of $77.91. The stock has a market cap of $26.29 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share 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 analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. Research analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

DXCM has been the subject of a number of research reports. Argus initiated coverage on DexCom in a research report on Thursday, August 21st. They issued a "buy" rating and a $100.00 price objective for the company. Morgan Stanley raised their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. William Blair upgraded DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. Raymond James Financial raised their target price on DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Mizuho raised their target price on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, DexCom has an average rating of "Moderate Buy" and a consensus price target of $98.32.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 500 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $80.29, for a total transaction of $40,145.00. Following the sale, the executive vice president owned 94,102 shares in the company, valued at approximately $7,555,449.58. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kyle Malady sold 667 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $80.86, for a total value of $53,933.62. Following the sale, the director owned 22,667 shares in the company, valued at $1,832,853.62. The trade was a 2.86% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,849 shares of company stock worth $564,733. Insiders own 0.32% of the company's stock.

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.

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