Woodline Partners LP Trims Holdings in DexCom, Inc. $DXCM

Key Points

• Woodline Partners LP has decreased its stake in DexCom, Inc. by 41.6%, selling 338,692 shares in the first quarter, leaving it with approximately 0.12% of the company.
• Several institutional investors, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, increased their stakes in DexCom, highlighting shifting investor sentiments.
• DexCom reported strong quarterly earnings, with $1.16 billion in revenue and an EPS of $0.48, exceeding analysts' expectations and reflecting a 15.2% year-over-year revenue growth.

Woodline Partners LP reduced its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 41.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,730 shares of the medical device company's stock after selling 338,692 shares during the period. Woodline Partners LP owned approximately 0.12% of DexCom worth $32,488,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its stake in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after buying an additional 264 shares during the period. Zions Bancorporation National Association UT bought a new stake in DexCom during the first quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in DexCom during the fourth quarter valued at $38,000. Alpine Bank Wealth Management bought a new stake in DexCom during the first quarter valued at $40,000. Finally, Private Trust Co. NA boosted its stake in DexCom by 99.4% during the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after buying an additional 335 shares during the period. Institutional investors own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DXCM shares. Raymond James Financial lifted their price objective on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 31st. Mizuho lifted their price objective on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial started coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Oppenheimer lowered DexCom from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, William Blair raised DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $99.89.

DexCom Trading Up 0.3%

Shares of DXCM traded up $0.22 during trading hours on Friday, hitting $76.22. The company had a trading volume of 3,054,556 shares, compared to its average volume of 3,987,928. The firm has a market cap of $29.89 billion, a P/E ratio of 52.93, a P/E/G ratio of 1.59 and a beta of 1.48. The stock's 50 day moving average price is $80.88 and its 200 day moving average price is $78.72. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25.

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

Insider Transactions at DexCom

In other news, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $88.99, for a total value of $130,459.34. Following the transaction, the executive vice president owned 106,689 shares in the company, valued at approximately $9,494,254.11. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the transaction, the director owned 51,121 shares in the company, valued at approximately $4,143,868.26. This represents a 5.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,237 shares of company stock valued at $1,263,480. 0.32% of the stock is currently owned by corporate 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.