Dexcom (DexCom, Inc.) is a leading medical device company focused on continuous glucose monitoring systems used by people with diabetes. Shares recently traded around $66 per share, giving the company a market capitalization of roughly $25.9B.
Dexcom shares are down about 14.7% over the past year, even as long-term expectations for revenue and earnings growth remain intact. Looking at who owns Dexcom and how institutions, hedge funds, and insiders have been trading helps show how large investors are approaching the stock today.
Who Are Dexcom’s Top Shareholders?
Dexcom’s shareholder base is led by major passive institutions that tend to hold through market cycles, which can help support long-term ownership stability. Active managers adjusted positions in both directions, showing a mix of confidence and caution around valuation.
- The Vanguard Group: 49,274,999 shares (12.63%), $3.27B value. Added 1,128,716 shares (+2.34%).
- BlackRock Institutional Trust: 24,324,611 shares (6.24%), $1.61B value. Added 77,707 shares (+0.32%).
- State Street Investment Management: 16,855,113 shares (4.32%), $1.12B value. Cut 2,965 shares (0.02%).
- Baillie Gifford & Co.: 15,882,168 shares (4.07%), $1.05B value. Cut 823,027 shares (4.93%).
- Geode Capital Management: 10,963,772 shares (2.81%), $728M value. Added 197,416 shares (+1.83%).
- Jennison Associates: 10,090,374 shares (2.59%), $670M value. Cut 1,427,172 shares (12.39%).
- Invesco Capital Management (QQQ Trust): 8,219,917 shares (2.11%), $546M value. Cut 23,103 shares (0.28%).
- Citadel Advisors: 6,778,490 shares (1.74%), $450M value. Added 5,409,762 shares (+395.24%).
- Nuveen: 6,151,237 shares (1.58%), $408M value. Cut 1,145,720 shares (15.70%).
- MFS Investment Management: 5,485,845 shares (1.41%), $364M value. Cut 1,003,107 shares (15.46%).
For investors, continued buying from Vanguard and BlackRock suggests long-term institutional support remains in place, while trimming by growth-focused managers appears more tied to valuation discipline than a shift in Dexcom’s underlying business outlook.
Hedge Fund Highlights
Squarepoint Ops LLC, founded by Spencer Nieman, sharply increased its Dexcom position last quarter, boosting holdings by more than 3,200% to roughly $73M value, which may suggest rising interest following the stock’s pullback.
Two Sigma Advisors, co-founded by John Overdeck and David Siegel, raised its stake by over 2,700%, bringing total exposure to about $26M value, which appears consistent with a data-driven view on Dexcom’s long-term growth profile.
Millennium Management, founded by Israel Englander, increased its Dexcom exposure by roughly 1,265% to approximately $231M value, a move that may reflect tactical positioning rather than a purely long-term allocation.
Schonfeld Strategic Advisors, founded by Steven Schonfeld, lifted its position by more than 950%, building a stake worth about $25M value, which could indicate selective optimism around Dexcom’s earnings trajectory.
For investors, hedge fund positioning appears split, with some firms stepping in aggressively after the decline while others remain cautious, a pattern often seen when valuation and growth expectations are being reassessed.
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Dexcom’s Recent Insider Trades
Insider trades can offer context on how executives and directors are managing personal exposure, though motivations are not always clear. Recent filings for Dexcom show mostly selling alongside a smaller number of share additions.
- Richard Alexander Collins (Director): Sold 2,906 shares at ~$59.05 and 3,948 shares at ~$55.17.
- Bridgette P. Heller (Director): Sold 1,012 shares at ~$58.07.
- Jacob Steven Leach (Officer): Bought 2,500 shares at ~$55.43 and 15,700 shares at ~$54.98.
- Euan A. Ashley (Director): Recorded 7,166 shares at $0.
- Kyle Malady (Director): Sold 667 shares at ~$80.86.
- Sadie Stern (Officer): Sold 1,466 shares at ~$80.00.
- Jereme M. Sylvain (Officer): Sold 4,824 shares at ~$74.17.
- Mark G. Foletta (Director): Sold 195 shares at ~$81.54 and 2,555 shares at ~$81.02.
Several $0 and Form 144 entries appear alongside these trades, which may relate to equity events or administrative filings, though that is not confirmed. For investors, the activity appears mixed and relatively small in scale compared to total insider ownership.
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What the Ownership & Insider Trade Data Tell Us
Dexcom’s ownership remains anchored by large passive institutions, providing stability even as the stock navigates volatility. Active managers and hedge funds appear divided, with some trimming exposure while others build positions following the pullback.
Insider activity looks measured, with selling at higher prices earlier and some buying closer to recent lows. For investors, the overall picture suggests Dexcom continues to be viewed as a long-term growth business, while near-term caution around valuation and execution still appears to influence positioning.
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