Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in DexCom, Inc. $DXCM

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its DexCom stake by 99.4% in the fourth quarter, selling more than 16 million shares and leaving it with 90,720 shares worth about $6.0 million.
• DexCom reported strong quarterly results, with EPS of $0.56 beating estimates and revenue of $1.19 billion topping expectations, up 15% year over year.
• Analyst sentiment remains mostly positive, but ratings are mixed: the stock has a Moderate Buy consensus with an average target price of $82.42, while some firms lowered price targets and Barclays reiterated an underweight rating.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 99.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,720 shares of the medical device company's stock after selling 16,023,451 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in DexCom were worth $6,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Trust Co. of Vermont lifted its holdings in DexCom by 14.8% during the fourth quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company's stock valued at $74,000 after purchasing an additional 145 shares during the last quarter. CVA Family Office LLC lifted its holdings in DexCom by 48.5% during the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after purchasing an additional 147 shares during the last quarter. IFP Advisors Inc lifted its holdings in DexCom by 24.7% during the third quarter. IFP Advisors Inc now owns 900 shares of the medical device company's stock valued at $61,000 after purchasing an additional 178 shares during the last quarter. Personal CFO Solutions LLC lifted its holdings in DexCom by 5.0% during the third quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company's stock valued at $260,000 after purchasing an additional 185 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock valued at $227,000 after purchasing an additional 196 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DXCM. Barclays reaffirmed an "underweight" rating and set a $64.00 price objective (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Piper Sandler reaffirmed an "overweight" rating on shares of DexCom in a report on Thursday, February 5th. Bank of America dropped their price objective on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Evercore raised shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price objective on the stock in a report on Tuesday, March 24th. Finally, Wells Fargo & Company dropped their price objective on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $82.42.

DexCom Trading Down 1.9%

Shares of DexCom stock opened at $73.45 on Wednesday. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $89.98. The company has a market cap of $28.34 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.24 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The company's 50-day moving average price is $64.32 and its 200-day moving average price is $66.64.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The company's revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at DexCom

In other news, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the sale, the insider directly owned 382,482 shares of the company's stock, valued at approximately $27,538,704. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $59.91, for a total transaction of $101,847.00. Following the completion of the sale, the executive vice president directly owned 109,504 shares in the company, valued at approximately $6,560,384.64. The trade was a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 32,871 shares of company stock valued at $2,306,638. 0.28% of the stock is currently owned by corporate insiders.

About DexCom

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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