DexCom, Inc. (NASDAQ:DXCM) Position Boosted by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in DexCom, Inc. by 2.0%, owning 47,455,899 shares valued at approximately $3.24 billion as of the latest SEC filing.
• Several hedge funds, including Golden State Wealth Management and Dynamic Advisor Solutions, significantly raised their positions in DexCom in the first quarter, indicating strong institutional interest in the company.
• DexCom reported earnings of $0.48 per share for the last quarter, exceeding estimates, and has received multiple upgrades from analysts, maintaining a positive consensus rating of "Buy."

Vanguard Group Inc. grew its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,455,899 shares of the medical device company's stock after acquiring an additional 925,882 shares during the period. Vanguard Group Inc. owned about 12.10% of DexCom worth $3,240,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in shares of DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after acquiring an additional 264 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of DexCom in the fourth quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new stake in shares of DexCom in the fourth quarter valued at about $38,000. Alpine Bank Wealth Management purchased a new stake in shares of DexCom in the first quarter valued at about $40,000. Finally, Private Trust Co. NA boosted its holdings in shares of DexCom by 99.4% in the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

Wall Street Analysts Forecast Growth

DXCM has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $106.00 target price on shares of DexCom in a report on Friday, August 1st. William Blair upgraded shares of DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Piper Sandler raised their price objective on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Morgan Stanley raised their price objective on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut shares of DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.89.

DexCom Trading Up 0.7%

DXCM traded up $0.53 during trading on Wednesday, hitting $80.70. 1,289,256 shares of the company's stock were exchanged, compared to its average volume of 3,900,663. 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 50 day moving average price of $83.40 and a 200 day moving average price of $80.19. The firm has a market cap of $31.64 billion, a P/E ratio of 56.16, a price-to-earnings-growth ratio of 1.63 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 for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the sale, the director owned 56,621 shares of the company's stock, valued at $4,706,903.73. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the 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 completion of the sale, the executive vice president directly owned 106,689 shares in the company, valued at approximately $9,494,254.11. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock valued at $2,412,191 over the last three months. 0.32% of the stock is currently owned by company insiders.

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.