MIG Capital LLC Purchases New Shares in DexCom, Inc. $DXCM

MIG Capital LLC purchased a new stake in shares of DexCom, Inc. (NASDAQ:DXCM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 724,191 shares of the medical device company’s stock, valued at approximately $63,215,000. DexCom accounts for approximately 6.5% of MIG Capital LLC’s holdings, making the stock its biggest position. MIG Capital LLC owned about 0.18% of DexCom as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. SWS Partners bought a new position in shares of DexCom during the second quarter valued at approximately $1,661,000. Baader Bank Aktiengesellschaft bought a new position in shares of DexCom during the second quarter valued at $393,000. Jennison Associates LLC boosted its stake in DexCom by 9.4% in the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after purchasing an additional 994,300 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of DexCom by 85.7% during the second quarter. Assenagon Asset Management S.A. now owns 1,208,255 shares of the medical device company’s stock valued at $105,469,000 after buying an additional 557,576 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of DexCom by 4.9% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 146,600 shares of the medical device company’s stock valued at $12,797,000 after acquiring an additional 6,800 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

DXCM has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of DexCom from $89.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Barclays set a $80.00 target price on shares of DexCom and gave the company an “equal weight” rating in a research note on Monday, November 3rd. Cowen restated a “buy” rating on shares of DexCom in a research note on Friday, October 24th. Wells Fargo & Company set a $93.00 price objective on DexCom and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, TD Cowen lowered their target price on DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Three 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.73.

DexCom Trading Down 0.8%

NASDAQ:DXCM opened at $61.69 on Wednesday. DexCom, Inc. has a one year low of $54.11 and a one year high of $93.25. The business has a fifty day moving average price of $64.93 and a 200-day moving average price of $76.23. The firm has a market capitalization of $24.06 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.DexCom’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity at DexCom

In related news, EVP Sadie Stern sold 1,466 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $80.00, for a total value of $117,280.00. Following the completion of the sale, the executive vice president directly owned 105,223 shares of the company’s stock, valued at approximately $8,417,840. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kyle Malady sold 667 shares of DexCom 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 transaction, the director directly owned 22,667 shares in the company, valued at $1,832,853.62. This represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,999 shares of company stock worth $619,391 in the last quarter. 0.32% of the stock is currently owned by 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.