Strs Ohio Makes New Investment in DexCom, Inc. $DXCM

Key Points

• Strs Ohio has acquired 224,600 shares of DexCom, Inc., valued at approximately $15.3 million, marking its entry into the company's stock during the 1st quarter.
• Recent earnings reports showed that DexCom's revenue increased by 15.2% year-over-year, with earnings per share of $0.48, surpassing analyst projections.
• Hedge funds and institutional investors own a substantial 97.75% of DexCom's stock, indicating strong investor confidence in the company's performance.

Strs Ohio acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 224,600 shares of the medical device company's stock, valued at approximately $15,338,000. Strs Ohio owned 0.06% of DexCom at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mattson Financial Services LLC increased its holdings in shares of DexCom by 34.4% during the 1st quarter. Mattson Financial Services LLC now owns 28,376 shares of the medical device company's stock valued at $1,938,000 after purchasing an additional 7,257 shares in the last quarter. Acadian Asset Management LLC increased its holdings in DexCom by 275.1% in the 1st quarter. Acadian Asset Management LLC now owns 188,628 shares of the medical device company's stock worth $12,870,000 after acquiring an additional 138,335 shares in the last quarter. Focus Partners Wealth increased its holdings in DexCom by 13.2% in the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock worth $493,000 after acquiring an additional 841 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in DexCom in the 1st quarter worth $242,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in DexCom by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company's stock worth $691,336,000 after acquiring an additional 1,868,241 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Trading Up 1.3%

NASDAQ DXCM traded up $0.97 during trading hours on Tuesday, reaching $76.55. The company had a trading volume of 4,300,479 shares, compared to its average volume of 3,938,647. The stock has a 50-day moving average of $80.73 and a 200 day moving average of $78.49. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $30.02 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 1.60 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial assumed coverage on shares of DexCom in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 price target for the company. Raymond James Financial boosted their price target on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Morgan Stanley boosted their price target on shares of DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Citigroup reissued a "buy" rating and issued a $102.00 price target (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.89.

Insider Buying and Selling at DexCom

In other DexCom news, 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 sale, the director directly owned 51,121 shares in the company, valued at $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the sale, the executive vice president owned 105,223 shares in the company, valued at $8,417,840. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,315 shares of company stock valued at $689,431 over the last three months. 0.32% of the stock is currently owned by company insiders.

DexCom Company 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.