Paloma Partners Management Co Sells 3,021,836 Shares of DexCom, Inc. $DXCM

Key Points

• Paloma Partners Management Co has drastically reduced its holdings in DexCom, Inc. by 99.9%, now owning only 3,164 shares worth approximately $216,000 after selling over 3 million shares in the first quarter.
• Despite the reduction in holdings by some investors, other hedge funds have increased their stakes, with Brighton Jones LLC boosting its investment by 257.7% in the fourth quarter.
• DexCom recently reported $0.48 earnings per share for the quarter, exceeding expectations, with revenue increasing by 15.2% year-over-year to $1.16 billion.

Paloma Partners Management Co cut its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 99.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,164 shares of the medical device company's stock after selling 3,021,836 shares during the period. Paloma Partners Management Co's holdings in DexCom were worth $216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of DexCom by 211.2% in 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 during the last quarter. Private Trust Co. NA raised its holdings in shares of DexCom by 99.4% in the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after purchasing an additional 335 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of DexCom by 29.3% in the first quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock valued at $209,000 after purchasing an additional 702 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of DexCom by 34.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock valued at $357,000 after purchasing an additional 1,333 shares during the last quarter. Finally, Stonebridge Financial Group LLC raised its holdings in shares of DexCom by 944.5% in the first 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 during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $88.99, for a total value 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 approximately $9,494,254.11. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $81.06, for a total transaction of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares of the company's stock, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,722 shares of company stock worth $1,306,131. Insiders own 0.32% of the company's stock.

DexCom Stock Performance

Shares of DexCom stock traded down $0.25 during trading on Friday, reaching $80.51. The company's stock had a trading volume of 2,718,245 shares, compared to its average volume of 3,873,160. The business's 50-day moving average price is $81.58 and its 200-day moving average price is $79.15. The firm has a market cap of $31.57 billion, a PE ratio of 55.91, a P/E/G ratio of 1.69 and a beta of 1.48. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $93.25. 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 (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. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. DexCom's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. Equities analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DXCM. Citigroup reiterated a "buy" rating and issued a $102.00 price objective (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Argus initiated coverage on shares of DexCom in a report on Thursday, August 21st. They set a "buy" rating and a $100.00 target price on the stock. Oppenheimer boosted their target price on shares of DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Finally, William Blair upgraded shares of DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, DexCom currently has an average rating of "Moderate Buy" and a consensus target price of $99.89.

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.