Quantitative Investment Management LLC Invests $1.49 Million in DexCom, Inc. $DXCM

Key Points

• Quantitative Investment Management LLC made a new investment in DexCom, purchasing 21,794 shares valued at approximately $1,488,000 during the 1st quarter.
• Multiple hedge funds increased their stakes in DexCom, with Stonebridge Financial Group LLC notably boosting its ownership by 944.5% in the same period.
• DexCom reported an earnings per share (EPS) of $0.48, exceeding analysts' expectations, with projected revenue of $1.16 billion for the quarter, reflecting a 15.2% year-over-year growth.

Quantitative Investment Management LLC bought a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 21,794 shares of the medical device company's stock, valued at approximately $1,488,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 925,882 shares during the period. Jennison Associates LLC increased its holdings in shares of 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 purchasing an additional 2,879,489 shares during the period. Nuveen LLC bought a new position in shares of DexCom during the 1st quarter worth about $554,893,000. Northern Trust Corp increased its holdings in shares of DexCom by 22.2% during the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after purchasing an additional 753,857 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in shares of DexCom by 21.8% during the 1st quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company's stock worth $229,117,000 after purchasing an additional 601,088 shares during the period. Institutional investors own 97.75% of the company's stock.

Insider Activity

In other DexCom news, EVP Michael Jon Brown sold 500 shares of the company'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 value of $40,145.00. Following the completion of the sale, the executive vice president owned 94,102 shares of the company's stock, valued at approximately $7,555,449.58. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 51,121 shares of the company's stock, valued at $4,143,868.26. The trade was a 5.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,722 shares of company stock worth $1,306,131 over the last three months. Company insiders own 0.32% of the company's stock.

DexCom Trading Down 1.7%

NASDAQ DXCM traded down $1.30 during trading hours on Thursday, hitting $75.08. The company's stock had a trading volume of 5,969,394 shares, compared to its average volume of 3,916,761. The stock has a fifty day moving average of $82.35 and a 200 day moving average of $79.55. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The firm has a market capitalization of $29.44 billion, a P/E ratio of 52.14, a PEG ratio of 1.60 and a beta of 1.43. 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 issued its earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business's quarterly revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. Equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DXCM shares. UBS Group increased their price objective on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Citigroup reissued a "buy" rating and issued a $102.00 price target (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Morgan Stanley raised their price target on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group started coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price for the company. Finally, Argus started coverage on DexCom in a report on Thursday, August 21st. They set a "buy" rating and a $100.00 price objective for the company. 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 data from MarketBeat, DexCom currently has an average rating of "Moderate Buy" and an average target price of $99.89.

DexCom 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.