Prudential PLC Purchases 10,884 Shares of DexCom, Inc. $DXCM

Key Points

• Prudential PLC increased its stake in DexCom, Inc. by 70%, acquiring an additional 10,884 shares, bringing its total holdings to 26,429 shares worth approximately $1.8 million.
• DexCom reported earnings of $0.48 per share for the recent quarter, exceeding analysts' expectations, with revenue reaching $1.16 billion, a 15.2% increase year-over-year.
• Despite strong performance, some analysts have adjusted ratings, with Wall Street Zen downgrading DexCom from "strong-buy" to "buy" while others increased their price targets for the stock.

Prudential PLC boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 70.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,429 shares of the medical device company's stock after purchasing an additional 10,884 shares during the period. Prudential PLC's holdings in DexCom were worth $1,805,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DXCM. Brighton Jones LLC increased its position in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in DexCom by 1.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock valued at $8,637,000 after acquiring an additional 2,010 shares during the last quarter. Mariner LLC grew its stake in DexCom by 1.5% in the fourth quarter. Mariner LLC now owns 29,729 shares of the medical device company's stock worth $2,312,000 after purchasing an additional 442 shares in the last quarter. United Capital Financial Advisors LLC boosted its position in DexCom by 56.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 17,649 shares of the medical device company's stock valued at $1,373,000 after purchasing an additional 6,401 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of DexCom by 122.5% during the fourth quarter. NewEdge Advisors LLC now owns 23,905 shares of the medical device company's stock valued at $1,859,000 after acquiring an additional 13,159 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DXCM has been the topic of several analyst reports. Barclays raised their target price on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price objective for the company. Oppenheimer raised their price objective on DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Truist Financial initiated coverage on shares of DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price target for the company. Finally, UBS Group increased their target price on shares of DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, DexCom presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Stock Performance

Shares of DexCom stock traded down $0.1730 during midday trading on Tuesday, hitting $80.6470. The company had a trading volume of 605,543 shares, compared to its average volume of 3,872,602. The stock has a market cap of $31.63 billion, a PE ratio of 56.00, a P/E/G ratio of 1.70 and a beta of 1.43. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The business's 50 day simple moving average is $82.96 and its two-hundred day simple moving average is $79.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data 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. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. As a group, equities analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the completion of the transaction, the director directly owned 33,411 shares of the company's stock, valued at $2,766,430.80. The trade was a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $88.99, for a total transaction of $130,459.34. Following the transaction, the executive vice president owned 106,689 shares in the company, valued at approximately $9,494,254.11. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,906 shares of company stock worth $2,675,251 over the last ninety days. Company 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.