Baird Financial Group Inc. Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Baird Financial Group Inc. cut its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 401,903 shares of the medical device company's stock after selling 62,357 shares during the quarter. Baird Financial Group Inc. owned about 0.10% of DexCom worth $31,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in DexCom during the 4th quarter valued at about $25,000. Private Trust Co. NA grew its stake in DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock valued at $26,000 after acquiring an additional 245 shares in the last quarter. Optiver Holding B.V. bought a new stake in DexCom during the 4th quarter worth approximately $33,000. TD Private Client Wealth LLC lifted its stake in DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after purchasing an additional 167 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after purchasing an additional 137 shares during the period. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Down 1.7 %

Shares of DexCom stock opened at $80.27 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $132.26. The company's 50 day moving average price is $71.27 and its 200-day moving average price is $76.93. The stock has a market capitalization of $31.47 billion, a price-to-earnings ratio of 56.13, a P/E/G ratio of 2.30 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a return on equity of 30.14% and a net margin of 14.29%. DexCom's revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 32,498 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the transaction, the chief executive officer now directly owns 372,029 shares of the company's stock, valued at approximately $26,183,401.02. The trade was a 8.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 7,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the completion of the sale, the executive vice president now directly owns 135,482 shares of the company's stock, valued at approximately $10,002,636.06. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,926 shares of company stock worth $4,734,384 in the last 90 days. Company insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

DXCM has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price objective on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday. Baird R W upgraded DexCom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Piper Sandler decreased their price objective on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday. Barclays lifted their target price on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Morgan Stanley increased their price target on shares of DexCom from $75.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $98.11.

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.

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