DexCom, Inc. $DXCM Shares Sold by Gradient Investments LLC

Key Points

• Gradient Investments reduced its DexCom position by 36.6% in the third quarter, selling 136,259 shares and retaining 236,283 shares valued at approximately $20.4 million.
• Institutional investors own 97.75% of DexCom, while analysts maintain a consensus “Buy” rating with an average price target of $91.96.
• DexCom recently 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.

Gradient Investments LLC decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,283 shares of the medical device company's stock after selling 136,259 shares during the quarter. Gradient Investments LLC owned 0.06% of DexCom worth $20,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC purchased a new position in shares of DexCom in the third quarter valued at $215,000. Toth Financial Advisory Corp increased its holdings in DexCom by 36,470.6% during the 3rd quarter. Toth Financial Advisory Corp now owns 6,217 shares of the medical device company's stock valued at $536,000 after acquiring an additional 6,200 shares in the last quarter. HWG Holdings LP acquired a new position in DexCom during the third quarter worth about $8,321,000. Elevation Wealth Partners LLC raised its position in DexCom by 61.0% during the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company's stock worth $35,000 after acquiring an additional 152 shares during the last quarter. Finally, Cooper Financial Group purchased a new stake in shares of DexCom in the third quarter valued at about $237,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DXCM shares. Citigroup reissued a "buy" rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. TD Cowen reaffirmed a "buy" rating and issued a $95.00 target price on shares of DexCom in a research note on Friday, September 18th. Argus raised their price target on DexCom from $86.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. UBS Group set a $96.00 price target on DexCom and gave the stock a "buy" rating in a report on Tuesday, July 28th. Finally, Barclays upgraded DexCom to a "strong-buy" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, DexCom has a consensus rating of "Buy" and an average target price of $91.96.

DexCom Trading Down 0.5%

DXCM traded down $0.41 during trading on Thursday, hitting $83.89. The company's stock had a trading volume of 998,767 shares, compared to its average volume of 5,011,308. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The stock has a market cap of $31.66 billion, a PE ratio of 33.20, a PEG ratio of 1.40 and a beta of 1.48. The firm's 50 day moving average price is $87.33 and its 200-day moving average price is $74.97. 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 announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The business's revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current year.

Insider Activity at DexCom

In other news, insider Kevin R. Sayer sold 26,756 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the transaction, the insider directly owned 328,970 shares in the company, valued at $25,106,990.40. This represents a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the firm's stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $86.15, for a total transaction of $220,974.75. Following the completion of the sale, the executive vice president directly owned 123,478 shares in the company, valued at $10,637,629.70. This represents a 2.04% 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 90 days, insiders have sold 49,313 shares of company stock worth $3,945,875. Corporate insiders own 0.28% of the company's stock.

DexCom Profile

DexCom, Inc NASDAQ: DXCM develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.

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