Summit Financial LLC Invests $301,000 in DexCom, Inc. $DXCM

Key Points

• Summit Financial LLC invested $301,000 in DexCom, Inc. by acquiring 4,404 shares in the first quarter.
• DexCom's recent quarterly earnings exceeded expectations, reporting $1.16 billion in revenue and an EPS of $0.48, surpassing estimates by $0.03.
• Institutional investors hold **97.75%** of DexCom's stock, indicating strong overall institutional confidence in the company.

Summit Financial LLC acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,404 shares of the medical device company's stock, valued at approximately $301,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of DexCom by 2.0% during 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 purchasing an additional 925,882 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. Nuveen LLC acquired a new stake in shares of DexCom during the first quarter worth $554,893,000. Northern Trust Corp boosted its holdings in shares of DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after purchasing an additional 753,857 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of DexCom by 21.8% during the first quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company's stock worth $229,117,000 after purchasing an additional 601,088 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $88.99, for a total transaction of $130,459.34. Following the transaction, the executive vice president owned 106,689 shares in the company, valued at $9,494,254.11. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicholas Augustinos sold 3,672 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the transaction, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. This represents a 9.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,722 shares of company stock worth $1,306,131. Company insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DXCM. Citigroup restated a "buy" rating and set a $102.00 price objective (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Raymond James Financial raised their price objective on DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 31st. Oppenheimer lifted their target price on DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Mizuho lifted their target price on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $106.00 target price on shares of DexCom in a report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $99.89.

DexCom Stock Down 1.7%

Shares of DXCM traded down $1.30 during midday trading on Thursday, reaching $75.08. 5,969,394 shares of the company were exchanged, compared to its average volume of 4,352,057. The stock has a 50-day moving average price of $82.35 and a 200-day moving average price of $79.55. The company has a market cap of $29.44 billion, a price-to-earnings ratio of 52.14, a P/E/G ratio of 1.60 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 current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

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

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.