Allianz Asset Management GmbH Sells 16,996 Shares of DexCom, Inc. $DXCM

Allianz Asset Management GmbH reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 23.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,083 shares of the medical device company’s stock after selling 16,996 shares during the quarter. Allianz Asset Management GmbH’s holdings in DexCom were worth $4,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. SWS Partners bought a new position in shares of DexCom in the second quarter worth approximately $1,661,000. Baader Bank Aktiengesellschaft purchased a new position in DexCom during the second quarter valued at $393,000. Mn Services Vermogensbeheer B.V. grew its stake in 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. Assenagon Asset Management S.A. grew its stake in 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 acquiring an additional 557,576 shares in the last quarter. Finally, Shell Asset Management Co. grew its stake in DexCom by 16.8% during the second quarter. Shell Asset Management Co. now owns 35,812 shares of the medical device company’s stock valued at $3,126,000 after acquiring an additional 5,138 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kyle Malady sold 667 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Jon Brown sold 500 shares of the stock in a transaction on 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 in the company, valued at approximately $7,555,449.58. This represents a 0.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,849 shares of company stock worth $564,733. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DXCM shares. Piper Sandler set a $100.00 target price on shares of DexCom and gave the company an “overweight” rating in a research note on Tuesday. William Blair raised shares of DexCom to a “strong-buy” rating in a research note on Thursday, July 31st. Truist Financial cut their target price on shares of DexCom from $102.00 to $94.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Mizuho raised their target price on shares of DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 10th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.40.

DexCom Price Performance

DexCom stock opened at $71.06 on Friday. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 49.35, a PEG ratio of 1.49 and a beta of 1.47. The firm’s fifty day moving average is $72.59 and its 200 day moving average is $77.71. 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, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25.

DexCom (NASDAQ:DXCM) last announced its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts forecast that DexCom, Inc. will post 2.03 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.