DexCom, Inc. $DXCM Position Cut by Baird Financial Group Inc.

Key Points

• Baird Financial Group cut its DexCom stake by 36.9% in the second quarter, selling 172,134 shares and retaining 293,946 shares valued at approximately $19.8 million. Institutional investors collectively own 97.75% of DXCM.
• DexCom reported quarterly earnings of $0.70 per share, beating estimates of $0.61, while revenue rose 13.1% year over year to $1.31 billion. Analysts expect full-year EPS of $2.64.
• Insiders sold 65,777 shares worth about $4.95 million over the past quarter, while analysts maintain a generally positive outlook: DXCM has a “Moderate Buy” consensus rating and an average price target of $88.71.

Baird Financial Group Inc. reduced its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 36.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 293,946 shares of the medical device company's stock after selling 172,134 shares during the quarter. Baird Financial Group Inc. owned 0.08% of DexCom worth $19,797,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DXCM. Reflection Asset Management bought a new stake in shares of DexCom during the fourth quarter valued at about $25,000. Ascentis Independent Advisors bought a new position in DexCom in the 1st quarter valued at about $25,000. MCF Advisors LLC bought a new position in DexCom in the 4th quarter valued at about $32,000. Wellington Grp LLC increased its stake in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock valued at $34,000 after buying an additional 475 shares during the period. Finally, DV Equities LLC bought a new stake in shares of DexCom during the 4th quarter worth about $36,000. Institutional investors own 97.75% of the company's stock.

Insider Buying and Selling

In other news, Director Mark Foletta sold 4,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the sale, the director directly owned 52,852 shares of the company's stock, valued at $3,917,918.76. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares of the company's stock, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 65,777 shares of company stock valued at $4,950,714. Insiders own 0.28% of the company's stock.

DexCom Stock Down 1.8%

DXCM stock opened at $83.03 on Friday. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59. The firm has a market cap of $31.33 billion, a PE ratio of 32.82, a P/E/G ratio of 1.42 and a beta of 1.42. The firm has a 50 day simple moving average of $82.75 and a 200 day simple moving average of $72.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The firm's quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DXCM has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $94.00 price target on shares of DexCom in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on DexCom in a report on Tuesday, June 23rd. They set a "buy" rating and a $86.00 target price on the stock. Citigroup reaffirmed a "buy" rating and set a $88.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. TD Cowen reiterated a "buy" rating on shares of DexCom in a research report on Friday, July 31st. Finally, Barclays reissued an "underweight" rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and an average price target of $88.71.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company's products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.

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