Beacon Investment Advisory Services Inc. Cuts Stake in DexCom, Inc. (NASDAQ:DXCM)

Beacon Investment Advisory Services Inc. trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,744 shares of the medical device company's stock after selling 140,984 shares during the quarter. DexCom accounts for approximately 1.6% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 17th largest holding. Beacon Investment Advisory Services Inc. owned about 0.13% of DexCom worth $33,581,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in DexCom by 37.7% in the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after acquiring an additional 2,879,489 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of DexCom by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company's stock worth $775,256,000 after purchasing an additional 56,094 shares during the last quarter. Norges Bank bought a new stake in shares of DexCom in the 4th quarter worth approximately $385,367,000. Northern Trust Corp raised its holdings in shares of DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after purchasing an additional 753,857 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of DexCom by 171.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after purchasing an additional 2,015,971 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DXCM has been the topic of a number of research reports. Robert W. Baird lowered their price target on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Piper Sandler lowered their price target on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Mizuho lifted their price target on shares of DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Canaccord Genuity Group lifted their price target on shares of DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Wall Street Zen raised shares of DexCom from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

DexCom Price Performance

Shares of DXCM traded up $2.25 during midday trading on Friday, hitting $88.99. 3,055,235 shares of the company traded hands, compared to its average volume of 3,854,474. The stock has a 50-day moving average of $84.51 and a 200-day moving average of $80.34. DexCom, Inc. has a one year low of $57.52 and a one year high of $93.25. The firm has a market cap of $34.89 billion, a P/E ratio of 66.41, a PEG ratio of 1.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.32.

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 for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company's quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Sadie Stern sold 6,184 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the transaction, the executive vice president directly owned 109,621 shares in the company, valued at approximately $9,329,843.31. This represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Augustinos sold 3,672 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,190 shares of company stock valued at $2,281,732 in the last ninety days. 0.32% of the stock is currently owned by company 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.