Smith Group Asset Management LLC Lowers Holdings in DexCom, Inc. $DXCM

Key Points

• Smith Group Asset Management LLC reduced its holdings in DexCom, Inc. by 21.1% in the second quarter, now owning 33,130 shares valued at approximately $2.89 million.
• Several institutional investors showed activity, with Ethic Inc. increasing its stake by 3.7% and Stephens Investment Management Group LLC increasing theirs by 4.4% during the same period.
• DexCom reported better-than-expected earnings of $0.48 per share for the last quarter, surpassing the forecast of $0.45, and achieving a 15.2% year-over-year revenue growth.

Smith Group Asset Management LLC trimmed its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 21.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,130 shares of the medical device company's stock after selling 8,870 shares during the quarter. Smith Group Asset Management LLC's holdings in DexCom were worth $2,892,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC bought a new stake in shares of DexCom in the second quarter worth about $1,774,000. Ethic Inc. lifted its holdings in shares of DexCom by 3.7% in the 2nd quarter. Ethic Inc. now owns 49,205 shares of the medical device company's stock worth $4,248,000 after acquiring an additional 1,753 shares during the last quarter. Stephens Investment Management Group LLC lifted its holdings in shares of DexCom by 4.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 877,832 shares of the medical device company's stock worth $76,626,000 after acquiring an additional 36,748 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in shares of DexCom during the second quarter valued at approximately $213,000. Finally, Covenant Partners LLC purchased a new stake in shares of DexCom in the second quarter valued at approximately $256,000. 97.75% of the stock is owned by institutional investors.

DexCom Stock Up 0.5%

Shares of DXCM stock opened at $71.06 on Friday. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The stock's fifty day moving average price is $72.59 and its 200 day moving average price is $77.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.47.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results 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. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.43 EPS. 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. On average, research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total value of $117,280.00. Following the transaction, the executive vice president directly owned 105,223 shares of the company's stock, valued at $8,417,840. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Jon Brown sold 500 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 94,102 shares in the company, valued at approximately $7,555,449.58. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,849 shares of company stock valued at $564,733 in the last quarter. Insiders own 0.32% of the company's stock.

Analyst Ratings Changes

DXCM has been the subject of a number of research reports. William Blair upgraded DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Canaccord Genuity Group reiterated a "buy" rating and issued a $106.00 price target on shares of DexCom in a report on Monday, September 29th. Mizuho upped their target price on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Truist Financial lowered their target price on DexCom from $102.00 to $94.00 and set a "buy" rating for the company in a report on Wednesday, October 15th. Finally, UBS Group upped their target price on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.40.

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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