Janney Montgomery Scott LLC Trims Stake in DexCom, Inc. $DXCM

Janney Montgomery Scott LLC reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 81.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,067 shares of the medical device company’s stock after selling 195,357 shares during the period. Janney Montgomery Scott LLC’s holdings in DexCom were worth $3,759,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. SWS Partners acquired a new position in shares of DexCom during the second quarter worth $1,661,000. Baader Bank Aktiengesellschaft acquired a new stake in DexCom in the 2nd quarter worth approximately $393,000. Assenagon Asset Management S.A. boosted its stake in DexCom by 85.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,208,255 shares of the medical device company’s stock worth $105,469,000 after purchasing an additional 557,576 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in DexCom by 4.9% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 146,600 shares of the medical device company’s stock worth $12,797,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after purchasing an additional 264 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

DexCom stock opened at $66.03 on Wednesday. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25. The firm has a market capitalization of $25.89 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 1.39 and a beta of 1.47. The company has a fifty day simple moving average of $75.38 and a 200-day simple moving average of $77.80. 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 released its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DXCM. Piper Sandler increased their price objective on DexCom from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. UBS Group lifted their price objective on shares of DexCom from $105.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of DexCom in a research note on Saturday, September 27th. Truist Financial started coverage on shares of DexCom in a research note on Monday, June 16th. They set a “buy” rating and a $102.00 price objective for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $106.00 price objective on shares of DexCom in a research note on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.42.

Insider Buying and Selling at DexCom

In related news, Director Kyle Malady sold 667 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the sale, the director owned 22,667 shares of the company’s stock, valued at approximately $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael Jon Brown sold 500 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the completion of the sale, the executive vice president directly owned 94,102 shares of the company’s stock, valued at $7,555,449.58. This represents a 0.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,849 shares of company stock worth $564,733 over the last three months. 0.32% of the stock is owned by corporate 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.