Thematics Asset Management Boosts Stake in DexCom, Inc. $DXCM

Key Points

• Thematics Asset Management has increased its position in DexCom, Inc. by 22.9%, owning approximately 0.08% of the company worth $21.54 million after purchasing additional shares.
• DexCom reported $1.16 billion in revenue for the last quarter, exceeding consensus estimates and marking a 15.2% year-over-year increase in earnings per share.
• Analysts have raised price targets for DexCom, with new target ranges between $89.00 and $106.00, reflecting a generally positive outlook for the company's stock.

Thematics Asset Management boosted its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 315,392 shares of the medical device company's stock after acquiring an additional 58,663 shares during the period. Thematics Asset Management owned approximately 0.08% of DexCom worth $21,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Comerica Bank grew its position in shares of DexCom by 29.2% in the 1st quarter. Comerica Bank now owns 172,259 shares of the medical device company's stock valued at $11,764,000 after purchasing an additional 38,979 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in DexCom in the first quarter valued at approximately $1,810,000. Quantitative Investment Management LLC acquired a new position in shares of DexCom in the first quarter valued at approximately $1,488,000. Jump Financial LLC increased its position in shares of DexCom by 3,927.0% during the first quarter. Jump Financial LLC now owns 489,044 shares of the medical device company's stock worth $33,397,000 after acquiring an additional 476,900 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of DexCom by 69.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 74,000 shares of the medical device company's stock worth $5,053,000 after acquiring an additional 30,339 shares during the period. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Performance

Shares of NASDAQ:DXCM traded down $1.30 on Thursday, hitting $75.08. The company had a trading volume of 5,969,356 shares, compared to its average volume of 3,912,221. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The stock has a 50 day moving average price of $82.47 and a 200 day moving average price of $79.64. 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 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 (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $0.43 EPS. The business's revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. Analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of DexCom in a research note on Friday, May 30th. They issued a "buy" rating and a $104.00 target price for the company. Citigroup reiterated a "buy" rating and set a $102.00 price objective (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd. UBS Group lifted their target price on DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Truist Financial assumed coverage on DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price target for the company. Finally, Raymond James Financial lifted their price objective on shares of DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus target price of $99.89.

Insider Transactions at DexCom

In related news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $304,041.60. Following the sale, the director directly owned 33,411 shares in the company, valued at $2,766,430.80. This trade represents a 9.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Jon Brown sold 500 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $80.29, for a total value of $40,145.00. Following the completion of the sale, the executive vice president owned 94,102 shares of the company's stock, valued at $7,555,449.58. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $1,306,131 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

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.