Russell Investments Group Ltd. Boosts Stock Position in DexCom, Inc. $DXCM

Key Points

• Russell Investments Group Ltd. increased its holdings in DexCom, Inc. by 63.7% during the first quarter, acquiring an additional 91,525 shares to bring its total ownership to 235,206 shares.
• DexCom reported $0.48 earnings per share (EPS) for the quarter, surpassing expectations and achieving a 15.2% year-over-year revenue growth with $1.16 billion in sales.
• A variety of brokerages have recently adjusted their price targets for DexCom, with targets ranging up to $106.00 following positive earnings and market analysis, reflecting growing investor confidence.

Russell Investments Group Ltd. boosted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 63.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 235,206 shares of the medical device company's stock after acquiring an additional 91,525 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of DexCom worth $16,042,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in DexCom by 2.0% in the first quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock worth $3,240,763,000 after acquiring an additional 925,882 shares in the last quarter. Jennison Associates LLC increased its position in shares of DexCom by 37.7% in the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after buying an additional 2,879,489 shares in the last quarter. Nuveen LLC purchased a new position in shares of DexCom in the first quarter valued at $554,893,000. Northern Trust Corp increased its position in shares of DexCom by 22.2% in the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after buying an additional 753,857 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of DexCom by 171.0% in the first 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 buying an additional 2,015,971 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Trading Down 0.7%

Shares of NASDAQ DXCM traded down $0.5970 during midday trading on Thursday, hitting $81.0730. The stock had a trading volume of 1,159,011 shares, compared to its average volume of 3,864,089. The company has a market capitalization of $31.79 billion, a price-to-earnings ratio of 56.36, a PEG 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 company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $82.85 and a 200 day moving average price of $79.97.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company's revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. On average, analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Nicholas Augustinos sold 3,672 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the transaction, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. The trade was a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the transaction, the director directly owned 56,621 shares in the company, valued at $4,706,903.73. This trade represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,906 shares of company stock valued at $2,675,251. Insiders own 0.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DXCM shares. Citigroup restated 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. Piper Sandler raised their price target on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Raymond James Financial raised their price target on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 31st. Truist Financial initiated coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price objective on the stock. Finally, Barclays increased their price objective on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.90.

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.