BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stock Position in DexCom, Inc. $DXCM

Key Points

• BNP Paribas Asset Management reduced its stake in DexCom, Inc. by 6.6% in Q1, owning approximately $23.1 million worth of the stock after selling 23,784 shares.
• Other institutional investors significantly increased their holdings in DexCom during the same period, with Golden State Wealth Management raising its stake by 211.2%.
• DexCom's stock price reached $80.95, and the company reported better-than-expected earnings with a 15.2% year-over-year revenue growth, marking a positive financial outlook.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,380 shares of the medical device company's stock after selling 23,784 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.09% of DexCom worth $23,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in shares of DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after buying an additional 264 shares during the last quarter. Private Trust Co. NA lifted its position in DexCom by 99.4% during the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after acquiring an additional 335 shares during the period. Farther Finance Advisors LLC grew its stake in shares of DexCom by 29.3% in the 1st quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock valued at $209,000 after purchasing an additional 702 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of DexCom by 34.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock valued at $357,000 after purchasing an additional 1,333 shares during the period. Finally, Stonebridge Financial Group LLC raised its stake in shares of DexCom by 944.5% during the first quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock worth $220,000 after purchasing an additional 2,909 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Stock Up 1.2%

DXCM stock opened at $80.95 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The company's 50 day simple moving average is $83.05 and its 200-day simple moving average is $79.99. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $93.25. The firm has a market capitalization of $31.74 billion, a PE ratio of 56.22, a P/E/G ratio of 1.70 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%. DexCom's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Equities analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on DXCM shares. Morgan Stanley boosted their price objective on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Oppenheimer increased their price target on shares of DexCom from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Canaccord Genuity Group restated a "buy" rating and issued a $106.00 price objective on shares of DexCom in a research report on Friday, August 1st. The Goldman Sachs Group began coverage on DexCom in a research report on Friday, May 30th. They set a "buy" rating and a $104.00 target price on the stock. Finally, Truist Financial began coverage on DexCom in a research note on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $99.89.

Insider Buying and Selling

In other news, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $88.99, for a total value of $130,459.34. Following the completion of the transaction, the executive vice president owned 106,689 shares of the company's stock, valued at $9,494,254.11. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Jon Brown sold 500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $41,400.00. Following the transaction, the executive vice president directly owned 95,102 shares in the company, valued at $7,874,445.60. The trade was a 0.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,656 shares of company stock valued at $2,412,191 over the last three months. Insiders own 0.32% of the company's stock.

DexCom 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.