Price T Rowe Associates Inc. MD Sells 448,403 Shares of DexCom, Inc. $DXCM

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in DexCom, Inc. by 23.1%, selling 448,403 shares which leaves them owning 1,491,134 shares valued at approximately $101.83 million.
• Several institutional investors have increased their stakes in DexCom significantly, with Massachusetts Financial Services Co. raising its position by 171.0% and Federated Hermes Inc. by an astounding 2,371.4%.
• DexCom recently reported a quarterly earnings per share (EPS) of $0.48, exceeding estimates, with a revenue of $1.16 billion, reflecting a 15.2% year-over-year increase.

Price T Rowe Associates Inc. MD lessened its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,491,134 shares of the medical device company's stock after selling 448,403 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.38% of DexCom worth $101,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DXCM. Nuveen LLC bought a new position in DexCom in the 1st quarter valued at about $554,893,000. Jennison Associates LLC lifted its position in DexCom by 37.7% in the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after acquiring an additional 2,879,489 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $218,175,000 after acquiring an additional 2,015,971 shares in the last quarter. Federated Hermes Inc. lifted its position in 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 valued at $136,220,000 after acquiring an additional 1,914,019 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in DexCom by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock valued at $3,240,763,000 after acquiring an additional 925,882 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Price Performance

DexCom stock opened at $75.96 on Tuesday. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $93.25. The company's 50 day moving average price is $82.67 and its two-hundred day moving average price is $79.68. 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 market cap of $29.79 billion, a P/E ratio of 52.75, a P/E/G ratio of 1.72 and a beta of 1.43.

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, topping 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 firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the firm earned $0.43 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. On average, equities analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the completion of the sale, the executive vice president owned 94,102 shares in the company, valued at $7,555,449.58. This trade represents a 0.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the firm's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,722 shares of company stock worth $1,306,131. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on DXCM shares. William Blair raised shares of DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. Piper Sandler raised their price target on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Argus started coverage on shares of DexCom in a research report on Thursday, August 21st. They issued a "buy" rating and a $100.00 price target on the stock. The Goldman Sachs Group started coverage on shares of DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, DexCom currently has a consensus rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.