Raymond James Financial Inc. Boosts Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Raymond James Financial Inc. increased its stake in DexCom by 21.8%, owning approximately 3.36 million shares valued at $229.1 million after purchasing an additional 601,088 shares in the first quarter.
• Insider trading revealed that executives sold a total of 28,656 shares valued at over $2.4 million in the past 90 days, indicating a 9.47% and 5.34% decrease in ownership by two executives.
• Multiple research firms raised their price targets on DexCom, with Piper Sandler increasing theirs from $90 to $100 and Citigroup raising theirs from $82 to $102, contributing to a consensus rating of "Moderate Buy" across analysts.

Raymond James Financial Inc. boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 21.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,355,057 shares of the medical device company's stock after purchasing an additional 601,088 shares during the period. Raymond James Financial Inc. owned approximately 0.86% of DexCom worth $229,117,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after purchasing an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new position in DexCom during the first quarter worth approximately $27,000. Optiver Holding B.V. purchased a new position in DexCom during the fourth quarter worth approximately $33,000. Heck Capital Advisors LLC purchased a new position in DexCom during the fourth quarter worth approximately $38,000. Finally, Alpine Bank Wealth Management purchased a new position in DexCom during the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 10,000 shares of DexCom stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the transaction, the executive vice president directly owned 95,602 shares of the company's stock, valued at approximately $8,057,336.56. The trade was a 9.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 6,184 shares of DexCom stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the transaction, the executive vice president directly owned 109,621 shares of the company's stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,656 shares of company stock valued at $2,412,191 in the last 90 days. 0.32% of the stock is currently owned by insiders.

DexCom Price Performance

Shares of DXCM stock opened at $80.95 on Friday. The firm has a market cap of $31.74 billion, a P/E ratio of 56.22, a P/E/G ratio of 1.70 and a beta of 1.43. 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, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The firm has a fifty day moving average of $83.05 and a two-hundred day moving average of $80.05.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. As a group, research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on DXCM. Piper Sandler increased their price target on shares of DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Robert W. Baird cut their target price on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group began coverage on shares of DexCom in a research note on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. Mizuho raised their target price on shares of DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Citigroup reissued a "buy" rating and issued a $102.00 target price (up previously from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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