Covea Finance Sells 147,910 Shares of DexCom, Inc. (NASDAQ:DXCM)

Covea Finance decreased its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 63.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,900 shares of the medical device company's stock after selling 147,910 shares during the period. Covea Finance's holdings in DexCom were worth $5,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Forvis Mazars Wealth Advisors LLC raised its stake in shares of DexCom by 0.7% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company's stock valued at $1,359,000 after acquiring an additional 118 shares during the last quarter. Principal Securities Inc. raised its stake in shares of DexCom by 3.4% during the fourth quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company's stock valued at $316,000 after acquiring an additional 135 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after acquiring an additional 137 shares during the last quarter. Nia Impact Advisors LLC raised its stake in shares of DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock valued at $766,000 after acquiring an additional 140 shares during the last quarter. Finally, Level Four Advisory Services LLC raised its stake in shares of DexCom by 1.1% during the fourth quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company's stock valued at $1,026,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Trading Down 1.2%

NASDAQ:DXCM opened at $80.00 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 59.70, a PEG ratio of 1.73 and a beta of 1.46. The firm has a fifty day simple moving average of $80.08 and a two-hundred day simple moving average of $79.40. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $117.27.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. Analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity

In related news, Director Nicholas Augustinos sold 2,618 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $81.69, for a total transaction of $213,864.42. Following the transaction, the director now directly owns 37,083 shares of the company's stock, valued at $3,029,310.27. This trade represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sadie Stern sold 6,184 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the transaction, the executive vice president now directly owns 109,621 shares in the company, valued at $9,329,843.31. The trade was a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,724 shares of company stock worth $2,157,034 over the last three months. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DXCM shares. The Goldman Sachs Group started coverage on shares of DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price target for the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a research note on Saturday, March 8th. Wall Street Zen raised shares of DexCom from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird decreased their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Truist Financial began coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.50.

DexCom Company 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.

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