TCV Trust & Wealth Management Inc. Invests $434,000 in DexCom, Inc. $DXCM

Key Points

• TCV Trust & Wealth Management Inc. acquired approximately $434,000 worth of 4,970 shares in DexCom, Inc. during the second quarter, marking a significant investment move.
• Research analysts have raised their price targets for DexCom, with Piper Sandler increasing its price objective from $90 to $100, reflecting an overall positive outlook for the stock.
• DexCom reported a 15.2% year-over-year revenue increase with $1.16 billion in quarterly revenue, exceeding analysts' expectations and demonstrating solid market performance.

TCV Trust & Wealth Management Inc. bought a new stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,970 shares of the medical device company's stock, valued at approximately $434,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DXCM. Brighton Jones LLC boosted its holdings in DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after purchasing an additional 11,946 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in DexCom by 1.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock valued at $8,637,000 after purchasing an additional 2,010 shares during the period. State of Wyoming boosted its holdings in DexCom by 3,522.0% in the fourth quarter. State of Wyoming now owns 1,811 shares of the medical device company's stock valued at $141,000 after purchasing an additional 1,761 shares during the period. Waverly Advisors LLC purchased a new position in DexCom in the fourth quarter valued at $258,000. Finally, Novem Group purchased a new position in DexCom in the fourth quarter valued at $845,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the sale, the director owned 51,121 shares of the company's stock, valued at approximately $4,143,868.26. The trade was a 5.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kyle Malady sold 667 shares of DexCom stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the sale, the director directly owned 22,667 shares in the company, valued at $1,832,853.62. This represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,315 shares of company stock worth $689,431 over the last quarter. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on DXCM shares. Argus started coverage on DexCom in a report on Thursday, August 21st. They issued a "buy" rating and a $100.00 target price for the company. 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 note on Thursday, July 31st. Barclays raised their price target on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 10th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $106.00 price target on shares of DexCom in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Stock Performance

Shares of NASDAQ DXCM traded down $0.10 during midday trading on Tuesday, reaching $69.41. 1,528,747 shares of the company were exchanged, compared to its average volume of 4,106,979. 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, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The stock has a fifty day simple moving average of $79.59 and a 200 day simple moving average of $78.19. The stock has a market cap of $27.22 billion, a P/E ratio of 48.01, a PEG ratio of 1.41 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The firm'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. On average, research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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.