Mackenzie Financial Corp Sells 43,245 Shares of DexCom, Inc. $DXCM

Mackenzie Financial Corp decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 4.1% during the second quarter, HoldingsChannel reports. The fund owned 1,018,021 shares of the medical device company’s stock after selling 43,245 shares during the quarter. Mackenzie Financial Corp’s holdings in DexCom were worth $88,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after purchasing an additional 11,946 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in DexCom by 42.0% in the first quarter. Avantax Advisory Services Inc. now owns 10,201 shares of the medical device company’s stock worth $697,000 after purchasing an additional 3,017 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of DexCom during the first quarter valued at approximately $434,000. PNC Financial Services Group Inc. grew its stake in shares of DexCom by 11.1% during the first quarter. PNC Financial Services Group Inc. now owns 51,828 shares of the medical device company’s stock valued at $3,539,000 after buying an additional 5,159 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of DexCom by 579.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 46,543 shares of the medical device company’s stock valued at $3,176,000 after buying an additional 39,688 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Transactions at DexCom

In other DexCom news, COO Jacob Steven Leach acquired 18,200 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $55.04 per share, with a total value of $1,001,728.00. Following the completion of the acquisition, the chief operating officer directly owned 331,697 shares in the company, valued at $18,256,602.88. This represents a 5.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the completion of the transaction, the executive vice president directly owned 105,223 shares of the company’s stock, valued at $8,417,840. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,999 shares of company stock worth $619,391. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler set a $75.00 price target on DexCom and gave the stock a “buy” rating in a research note on Friday, October 31st. Wells Fargo & Company set a $93.00 target price on DexCom and gave the stock an “overweight” rating in a research note on Friday, October 31st. TD Cowen lowered their target price on shares of DexCom from $100.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, October 31st. UBS Group cut their price target on shares of DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, Oppenheimer downgraded shares of DexCom from an “outperform” rating to a “market perform” rating in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DexCom has an average rating of “Moderate Buy” and a consensus target price of $86.73.

DexCom Price Performance

DXCM opened at $63.46 on Friday. The company has a market capitalization of $24.75 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 1.43 and a beta of 1.40. 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 12-month low of $54.11 and a 12-month high of $93.25. The business’s fifty day simple moving average is $64.31 and its 200-day simple moving average is $75.83.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. DexCom has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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.