DexCom, Inc. $DXCM Stock: Apollon Wealth Management LLC Lowers Stake

Key Points

• Apollon Wealth Management LLC cut its DexCom stake by 29.6% during the third quarter, selling 39,574 shares and retaining 94,315 shares valued at approximately $8.14 million.
• Institutional investors own 97.75% of DexCom, while analysts maintain a consensus “Buy” rating with an average price target of $92.43.
• DexCom’s latest quarterly results exceeded expectations, with EPS of $0.70 versus a $0.61 estimate and revenue of $1.31 billion, up 13.1% year over year.

Apollon Wealth Management LLC lessened its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 29.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,315 shares of the medical device company's stock after selling 39,574 shares during the quarter. Apollon Wealth Management LLC's holdings in DexCom were worth $8,138,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. increased its stake in DexCom by 27.7% in the third quarter. Mather Group LLC. now owns 563 shares of the medical device company's stock worth $49,000 after purchasing an additional 122 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in DexCom by 2.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,510 shares of the medical device company's stock worth $475,000 after acquiring an additional 150 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in DexCom by 61.0% in the 3rd 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in DexCom by 15.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company's stock worth $77,000 after acquiring an additional 153 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its holdings in shares of DexCom by 5.4% in the third quarter. Simplicity Wealth LLC now owns 3,169 shares of the medical device company's stock valued at $273,000 after purchasing an additional 162 shares during the period. Institutional investors own 97.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on DXCM shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $105.00 price objective (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. UBS Group set a $96.00 target price on shares of DexCom and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wells Fargo & Company increased their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Truist Financial set a $102.00 target price on DexCom and gave the company a "buy" rating in a research report on Friday, September 18th. Finally, Stifel Nicolaus set a $95.00 price target on DexCom and gave the company a "buy" rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $92.43.

DexCom Stock Up 0.8%

NASDAQ:DXCM opened at $78.57 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a market cap of $29.65 billion, a PE ratio of 30.57, a P/E/G ratio of 1.31 and a beta of 1.48. The company's 50 day moving average is $86.83 and its two-hundred day moving average is $74.40.

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 analysts' consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. Analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mark Foletta sold 2,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total value of $170,640.00. Following the transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $85.48, for a total value of $145,316.00. Following the completion of the transaction, the executive vice president owned 98,185 shares of the company's stock, valued at approximately $8,392,853.80. The trade was a 1.70% 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. In the last ninety days, insiders sold 24,257 shares of company stock valued at $2,049,173. Insiders own 0.28% of the company's stock.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company's product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.

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