TD Asset Management Inc Has $24.09 Million Stake in DexCom, Inc. $DXCM

Key Points

• TD Asset Management Inc increased its stake in DexCom, Inc. by 25.2% during Q2, acquiring an additional 55,644 shares, for a total value of approximately $24.09 million.
• DexCom recently reported earnings of $0.48 per share, exceeding analysts' expectations, with a revenue increase of 15.2% year-over-year, totaling $1.16 billion for the quarter.
• Research analysts have given DexCom a consensus rating of "Moderate Buy", with an average target price of $97.00, following several upgrades and target price adjustments from various firms.

TD Asset Management Inc grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,028 shares of the medical device company's stock after acquiring an additional 55,644 shares during the period. TD Asset Management Inc owned 0.07% of DexCom worth $24,094,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DXCM. Nuveen LLC bought a new stake in shares of DexCom during the 1st quarter valued at about $554,893,000. Jennison Associates LLC lifted its stake in DexCom by 37.7% in 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. Massachusetts Financial Services Co. MA boosted its holdings in shares of DexCom by 171.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after buying an additional 2,015,971 shares in the last quarter. Federated Hermes Inc. grew its position in shares of DexCom by 2,371.4% during the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock worth $136,220,000 after buying an additional 1,914,019 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 valued at $691,336,000 after acquiring an additional 1,868,241 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Stock Performance

DXCM opened at $66.60 on Friday. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The company has a market cap of $26.12 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.39 and a beta of 1.47. The company's fifty day moving average price is $73.35 and its two-hundred day moving average price is $77.52. 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 earnings per share (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 firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the company earned $0.43 earnings per share. The business's revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. On average, analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Jon Brown sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $80.29, for a total value of $40,145.00. Following the transaction, the executive vice president owned 94,102 shares in the company, valued at $7,555,449.58. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kyle Malady sold 667 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $80.86, for a total value of $53,933.62. Following the sale, the director owned 22,667 shares of the company's stock, valued at $1,832,853.62. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,849 shares of company stock valued at $564,733. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup cut their target price on shares of DexCom from $105.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. William Blair upgraded shares of DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Truist Financial reduced their target price on DexCom from $102.00 to $94.00 and set a "buy" rating for the company in a research note on Wednesday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of DexCom in a research note on Wednesday, October 8th. Finally, Piper Sandler increased their price target on DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and an average target price of $97.00.

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.

Want to see what other hedge funds are holding DXCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DexCom, Inc. (NASDAQ:DXCM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.