Comerica Bank Sells 143,340 Shares of DexCom, Inc. $DXCM

Key Points

• Comerica Bank cut its DexCom stake by 76.5%, selling 143,340 shares during the quarter and retaining 44,154 shares valued at about $2.93 million.
• DexCom recently beat estimates with EPS of $0.56 vs. $0.47 and revenue of $1.19 billion (up 15% year-over-year), reflecting a 19.3% net margin and strong return on equity.
• Analysts have a consensus Moderate Buy rating with an average price target of $83.50, compared with the stock trading near $60, indicating potential upside.

Comerica Bank decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 76.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,154 shares of the medical device company's stock after selling 143,340 shares during the period. Comerica Bank's holdings in DexCom were worth $2,931,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of DexCom by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of DexCom by 374.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock worth $195,666,000 after purchasing an additional 2,294,709 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of DexCom by 4.7% during the 3rd quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company's stock worth $177,356,000 after purchasing an additional 117,493 shares in the last quarter. DSM Capital Partners LLC grew its holdings in shares of DexCom by 76.5% during the 3rd quarter. DSM Capital Partners LLC now owns 2,533,539 shares of the medical device company's stock worth $170,482,000 after purchasing an additional 1,098,243 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of DexCom during the 3rd quarter worth $163,964,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on DXCM shares. Robert W. Baird set a $80.00 target price on DexCom in a report on Friday. Citigroup reissued a "buy" rating and set a $79.00 target price (down from $84.00) on shares of DexCom in a report on Monday. Wall Street Zen raised DexCom from a "buy" rating to a "strong-buy" rating in a report on Saturday. Barclays set a $67.00 target price on DexCom and gave the stock an "underweight" rating in a report on Friday. Finally, Morgan Stanley reissued an "overweight" rating on shares of DexCom in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.50.

DexCom Stock Performance

NASDAQ:DXCM opened at $60.04 on Tuesday. The stock's 50-day simple moving average is $65.87 and its 200 day simple moving average is $66.41. The firm has a market capitalization of $23.17 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.40. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.DexCom's revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. On average, analysts anticipate that DexCom, Inc. will post 2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total value of $107,168.00. Following the sale, the executive vice president directly owned 111,204 shares of the company's stock, valued at $7,010,300.16. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is owned by company insiders.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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