DexCom, Inc. $DXCM Shares Sold by Strs Ohio

Key Points

• Strs Ohio trimmed its DexCom stake by 33.5% in Q4, selling 74,984 shares and leaving 149,166 shares valued at about $9.9 million, while institutional and hedge fund ownership totals roughly 97.75%.
• Q results beat expectations: DexCom reported $0.56 EPS vs. $0.47 expected and $1.19B in revenue (up 15% year-over-year), with analysts forecasting about $2.52 EPS for the fiscal year.
• Analysts hold a consensus "Moderate Buy" with an average target of $83.50 versus the stock's recent ~ $60.04 price (52-week range $54.11–$89.98), implying potential upside.

Strs Ohio trimmed its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 33.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,166 shares of the medical device company's stock after selling 74,984 shares during the period. Strs Ohio's holdings in DexCom were worth $9,900,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DXCM. Holocene Advisors LP acquired a new stake in DexCom in the third quarter valued at approximately $163,964,000. CIBC Private Wealth Group LLC lifted its stake in shares of DexCom by 374.3% during the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock worth $195,666,000 after buying an additional 2,294,709 shares during the period. Vanguard Group Inc. lifted its stake in shares of DexCom by 2.3% during the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock worth $3,327,897,000 after buying an additional 1,133,638 shares during the period. DSM Capital Partners LLC lifted its stake in shares of DexCom by 76.5% during the third quarter. DSM Capital Partners LLC now owns 2,533,539 shares of the medical device company's stock worth $170,482,000 after buying an additional 1,098,243 shares during the period. Finally, Iron Triangle Partners LP acquired a new stake in shares of DexCom during the third quarter worth $57,196,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on DXCM. Citigroup reiterated a "buy" rating and set a $79.00 price objective (down from $84.00) on shares of DexCom in a research note on Monday. Wells Fargo & Company decreased their target price on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, February 13th. Canaccord Genuity Group set a $100.00 target price on shares of DexCom and gave the company a "buy" rating in a research report on Friday. Morgan Stanley restated an "overweight" rating on shares of DexCom in a research report on Monday, January 12th. Finally, Truist Financial restated a "buy" rating and set a $80.00 target price (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, DexCom currently has a consensus rating of "Moderate Buy" and an average target price of $83.50.

DexCom Price Performance

NASDAQ:DXCM opened at $60.04 on Tuesday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The stock 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 stock's 50-day moving average price is $65.87 and its 200-day moving average price is $66.41.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm earned $0.32 EPS. The company's quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities analysts expect that DexCom, Inc. will post 2.52 EPS for the current fiscal year.

Insider Activity at DexCom

In other 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 transaction of $107,168.00. Following the sale, the executive vice president directly owned 111,204 shares in the company, valued at $7,010,300.16. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is owned by company insiders.

DexCom Company 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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