Raymond James & Associates Grows Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Raymond James & Associates raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 479.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,031,700 shares of the medical device company’s stock after buying an additional 853,743 shares during the quarter. Raymond James & Associates owned about 0.27% of DexCom worth $143,097,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC grew its stake in shares of DexCom by 11.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock worth $108,000 after purchasing an additional 115 shares during the period. CX Institutional acquired a new stake in DexCom in the 4th quarter valued at $286,000. abrdn plc grew its stake in DexCom by 21.1% in the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after acquiring an additional 66,348 shares during the period. Cerity Partners LLC grew its stake in DexCom by 5,791.0% in the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after acquiring an additional 456,097 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in DexCom in the 4th quarter valued at $57,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of research analyst reports. Royal Bank of Canada initiated coverage on shares of DexCom in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price target on the stock. Canaccord Genuity Group raised their price objective on DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Raymond James raised their price objective on DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a report on Friday. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Citigroup raised their price objective on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

Insiders Place Their Bets

In other DexCom news, COO Jacob Steven Leach sold 14,639 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $134.41, for a total transaction of $1,967,627.99. Following the sale, the chief operating officer now directly owns 273,913 shares in the company, valued at approximately $36,816,646.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other DexCom news, EVP Matthew Vincent Dolan sold 1,990 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $137.81, for a total value of $274,241.90. Following the completion of the transaction, the executive vice president now owns 42,377 shares of the company’s stock, valued at approximately $5,839,974.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jacob Steven Leach sold 14,639 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $134.41, for a total transaction of $1,967,627.99. Following the completion of the transaction, the chief operating officer now directly owns 273,913 shares of the company’s stock, valued at approximately $36,816,646.33. The disclosure for this sale can be found here. Insiders have sold 189,375 shares of company stock worth $25,530,859 over the last three months. Company insiders own 0.41% of the company’s stock.

DexCom Trading Up 1.3 %

Shares of NASDAQ:DXCM traded up $1.58 during midday trading on Tuesday, reaching $127.39. 3,049,135 shares of the company’s stock were exchanged, compared to its average volume of 3,056,698. The firm’s 50 day simple moving average is $131.49 and its two-hundred day simple moving average is $119.53. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 82.19, a P/E/G ratio of 2.11 and a beta of 1.20. DexCom, Inc. has a fifty-two week low of $74.75 and a fifty-two week high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $921.00 million during the quarter, compared to the consensus estimate of $911.20 million. DexCom had a return on equity of 31.01% and a net margin of 16.82%. As a group, sell-side analysts forecast that DexCom, Inc. will post 1.78 EPS for the current fiscal year.

DexCom Company Profile

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.