DexCom, Inc. $DXCM Shares Acquired by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC increased its holdings in DexCom, Inc. by 66.0%, acquiring 51,817 additional shares to reach a total of 130,367 shares worth approximately $8.9 million.
• DexCom reported a 15.2% year-over-year revenue growth with earnings per share of $0.48, surpassing analyst expectations.
• Wall Street analysts have shown confidence in DexCom's future, with several raising their target prices for the stock to above $95, and a consensus rating of "Moderate Buy."

Parkman Healthcare Partners LLC lifted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 66.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,367 shares of the medical device company's stock after purchasing an additional 51,817 shares during the period. Parkman Healthcare Partners LLC's holdings in DexCom were worth $8,903,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DXCM. Nuveen LLC acquired a new stake in DexCom during the 1st quarter worth approximately $554,893,000. Jennison Associates LLC lifted its holdings in DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after buying an additional 2,879,489 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in DexCom by 171.0% during 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 buying an additional 2,015,971 shares in the last quarter. Federated Hermes Inc. lifted its holdings 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 worth $136,220,000 after buying an additional 1,914,019 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 buying an additional 925,882 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Up 0.5%

Shares of NASDAQ DXCM traded up $0.40 during mid-day trading on Tuesday, reaching $78.40. The company had a trading volume of 2,499,621 shares, compared to its average volume of 3,809,610. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm has a 50 day simple moving average of $81.29 and a two-hundred day simple moving average of $78.92. The stock has a market cap of $30.74 billion, a P/E ratio of 54.44, a PEG ratio of 1.64 and a beta of 1.48. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DXCM. Barclays increased their target price on shares of DexCom from $93.00 to $98.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler increased their target price on shares of DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. William Blair upgraded shares of DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Finally, Raymond James Financial increased their price objective on shares of DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

Insider Transactions at DexCom

In related news, Director Kyle Malady sold 667 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following the transaction, the director directly owned 22,667 shares of the company's stock, valued at $1,832,853.62. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction on 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 transaction, the director directly owned 51,121 shares in the company, valued at $4,143,868.26. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,855 shares of company stock worth $1,477,344. 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.