Cresset Asset Management LLC Has $1.23 Million Holdings in DexCom, Inc. $DXCM

Cresset Asset Management LLC cut its position in DexCom, Inc. (NASDAQ:DXCM) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,050 shares of the medical device company’s stock after selling 3,404 shares during the quarter. Cresset Asset Management LLC’s holdings in DexCom were worth $1,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DXCM. Nuveen LLC acquired a new position in DexCom in the 1st quarter valued at $554,893,000. Jennison Associates LLC grew its position in DexCom by 37.7% in the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock worth $718,632,000 after purchasing an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in DexCom by 171.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company’s stock worth $218,175,000 after purchasing an additional 2,015,971 shares during the last quarter. Federated Hermes Inc. grew its position in DexCom by 2,371.4% in the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company’s stock worth $136,220,000 after purchasing an additional 1,914,019 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in DexCom by 2.0% in 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 during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael Jon Brown sold 10,000 shares of DexCom stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total transaction of $842,800.00. Following the completion of the transaction, the executive vice president directly owned 95,602 shares of the company’s stock, valued at $8,057,336.56. This trade represents a 9.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $304,041.60. Following the transaction, the director directly owned 33,411 shares of the company’s stock, valued at $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,906 shares of company stock valued at $2,675,251. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DXCM shares. Wall Street Zen lowered shares of DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 10th. Canaccord Genuity Group restated a “buy” rating and issued a $106.00 price target on shares of DexCom in a research report on Friday, August 1st. The Goldman Sachs Group started coverage on shares of DexCom in a research report on Friday, May 30th. They issued a “buy” rating and a $104.00 price target on the stock. William Blair upgraded shares of DexCom to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Piper Sandler raised their price target on shares of DexCom from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.89.

DexCom Price Performance

NASDAQ:DXCM opened at $81.67 on Thursday. The company has a 50-day moving average of $82.85 and a 200-day moving average of $79.97. The company has a market capitalization of $32.03 billion, a price-to-earnings ratio of 56.72, a PEG ratio of 1.70 and a beta of 1.43. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $93.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 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 15.2% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. As a group, 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.