DexCom, Inc. $DXCM Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in DexCom, Inc. by 11.4% during the first quarter, selling 17,163 shares, and now holds 133,128 shares valued at approximately $9.09 million.
• Several large investors, including Ethic Inc. and Aberdeen Group, have increased their stakes in DexCom, showcasing growing institutional interest, with institutional ownership now at 97.75%.
• Despite some analysts lowering price targets, DexCom continues to receive mostly favorable ratings, with a consensus target price of $99.89 and a reported earnings per share (EPS) of $0.48 for the last quarter, surpassing expectations.

State of New Jersey Common Pension Fund D lowered its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,128 shares of the medical device company's stock after selling 17,163 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in DexCom were worth $9,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of 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 during the period. Jennison Associates LLC grew its position in DexCom by 37.7% during 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 during the period. Nuveen LLC acquired a new stake in DexCom during the first quarter valued at $554,893,000. Northern Trust Corp grew its position in DexCom by 22.2% during 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 during the period. Finally, Massachusetts Financial Services Co. MA grew its position in DexCom by 171.0% during 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 during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Price Performance

Shares of NASDAQ DXCM traded up $1.5950 during trading on Friday, hitting $82.2150. The company had a trading volume of 1,484,518 shares, compared to its average volume of 3,863,299. The stock has a fifty day simple moving average of $82.81 and a two-hundred day simple moving average of $79.93. 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 firm has a market capitalization of $32.24 billion, a price-to-earnings ratio of 57.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. 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 year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen lowered shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Truist Financial assumed coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price target on the stock. UBS Group raised their price target on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Citigroup restated a "buy" rating and set a $102.00 price target (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Finally, Argus assumed coverage on shares of DexCom in a research report on Thursday. They set a "buy" rating and a $100.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.90.

Insider Buying and Selling at DexCom

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were 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 $2,766,430.80. The trade was a 9.90% 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 business's stock in a transaction dated 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 transaction, the director owned 51,121 shares in the company, valued at $4,143,868.26. The trade was a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,906 shares of company stock valued at $1,832,451. Corporate 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.