DexCom, Inc. $DXCM Holdings Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,766,356 shares of the medical device company’s stock after purchasing an additional 358,617 shares during the quarter. Geode Capital Management LLC owned approximately 2.75% of DexCom worth $936,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Andra AP fonden bought a new position in shares of DexCom during the second quarter worth about $26,000. Zions Bancorporation National Association UT acquired a new position in DexCom during the 1st quarter valued at about $27,000. Anderson Financial Strategies LLC acquired a new position in DexCom during the 1st quarter valued at about $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in DexCom in the 2nd quarter worth about $45,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of DexCom in the second quarter valued at approximately $70,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DXCM. Truist Financial reiterated a “buy” rating and set a $82.00 price objective (down from $94.00) on shares of DexCom in a research report on Monday, November 3rd. Piper Sandler set a $75.00 target price on DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group reduced their price target on DexCom from $104.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of DexCom in a research note on Wednesday, October 8th. 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 research note on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.62.

DexCom Trading Up 0.2%

Shares of DexCom stock opened at $59.72 on Friday. The business has a fifty day simple moving average of $67.70 and a 200-day simple moving average of $77.27. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $93.25. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 41.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.40. 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 (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the business earned $0.45 earnings per share. DexCom’s revenue for the quarter was up 21.6% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. On average, equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kyle Malady sold 667 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the sale, the director directly owned 22,667 shares of the company’s stock, valued at $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Alexander Collins sold 3,948 shares of DexCom stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $55.17, for a total transaction of $217,811.16. Following the completion of the transaction, the director owned 37,994 shares in the company, valued at approximately $2,096,128.98. This trade represents a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 7,093 shares of company stock worth $447,792. Company insiders own 0.32% of the company’s stock.

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.