DexCom, Inc. $DXCM Stake Decreased by Bell Asset Management Ltd

Key Points

• Bell Asset Management cut its DexCom stake by 52.9% in the third quarter, selling 26,435 shares and retaining 23,564 shares valued at approximately $2.03 million. Institutional investors collectively own 97.75% of DXCM.
• DexCom reported quarterly EPS of $0.70, exceeding the $0.61 consensus estimate, while revenue reached $1.31 billion and rose 13.1% year over year.
• Analysts remain positive, with the stock carrying a consensus “Buy” rating and an average price target of $91.96 versus a reported opening price of $84.41.

Bell Asset Management Ltd reduced its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 52.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,564 shares of the medical device company's stock after selling 26,435 shares during the period. Bell Asset Management Ltd's holdings in DexCom were worth $2,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DXCM. Reflection Asset Management purchased a new position in shares of DexCom during the 4th quarter valued at about $25,000. Ascentis Independent Advisors purchased a new stake in DexCom in the first quarter worth approximately $25,000. Elevation Wealth Partners LLC grew 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 valued at $35,000 after acquiring an additional 152 shares during the last quarter. Wellington Grp LLC grew its position in DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock valued at $34,000 after acquiring an additional 475 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of DexCom during the first quarter worth approximately $44,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Performance

DexCom stock opened at $84.41 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $87.52 and a 200-day moving average of $75.10. The firm has a market cap of $31.85 billion, a P/E ratio of 33.36, a P/E/G ratio of 1.41 and a beta of 1.48. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its 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. The company had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.DexCom's quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Sell-side analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

DXCM has been the subject of a number of research reports. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 price objective (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Stifel Nicolaus set a $95.00 target price on shares of DexCom and gave the stock a "buy" rating in a research report on Friday, July 31st. Barclays raised shares of DexCom to a "strong-buy" rating in a research note on Wednesday. TD Cowen restated a "buy" rating and set a $95.00 price target on shares of DexCom in a research report on Friday, September 18th. Finally, Canaccord Genuity Group set a $90.00 price objective on DexCom and gave the company a "buy" rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $91.96.

Insider Activity at DexCom

In related news, EVP Sadie Stern sold 2,565 shares of the firm's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $86.15, for a total value of $220,974.75. Following the completion of the sale, the executive vice president owned 123,478 shares of the company's stock, valued at $10,637,629.70. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Foletta sold 2,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the completion of the sale, the director directly owned 48,852 shares of the company's stock, valued at approximately $4,168,052.64. This represents a 3.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,313 shares of company stock valued at $3,945,875 over the last 90 days. Company insiders own 0.28% of the company's stock.

DexCom Company 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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