Fred Alger Management LLC Makes New $2.08 Million Investment in DexCom, Inc. $DXCM

Fred Alger Management LLC bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 30,516 shares of the medical device company’s stock, valued at approximately $2,084,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of DexCom by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company’s stock worth $3,240,763,000 after purchasing an additional 925,882 shares in the last quarter. Jennison Associates LLC grew its stake in DexCom by 37.7% during the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock worth $718,632,000 after buying an additional 2,879,489 shares during the last quarter. Nuveen LLC bought a new stake in DexCom during the first quarter worth about $554,893,000. Raymond James Financial Inc. increased its holdings in shares of DexCom by 21.8% during the first quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company’s stock worth $229,117,000 after buying an additional 601,088 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of DexCom by 171.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company’s stock valued at $218,175,000 after acquiring an additional 2,015,971 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 0.5%

DXCM stock opened at $78.40 on Wednesday. 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 twelve month low of $57.52 and a twelve month high of $93.25. The company has a market cap of $30.74 billion, a P/E ratio of 54.44, a PEG ratio of 1.64 and a beta of 1.48. The business has a fifty day moving average of $81.29 and a 200-day moving average of $78.92.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity at DexCom

In related news, Director Kyle Malady sold 667 shares of the business’s 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. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $81.06, for a total transaction of $222,915.00. Following the completion of the transaction, the director owned 51,121 shares in the company, valued at $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,855 shares of company stock worth $1,477,344 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial began coverage on DexCom in a report on Monday, June 16th. They issued a “buy” rating and a $102.00 target price on the stock. William Blair raised DexCom to a “strong-buy” rating in a research note on Thursday, July 31st. Canaccord Genuity Group restated a “buy” rating and issued a $106.00 target price on shares of DexCom in a research note on Friday, August 1st. Mizuho lifted their price target on DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Raymond James Financial upped their price target on shares of DexCom from $99.00 to $102.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $99.89.

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.