DexCom, Inc. $DXCM Stock: Jefferies Financial Group Inc. Decreases Holdings

Key Points

• Jefferies Financial Group cut its DexCom stake by 97.6% in the third quarter, selling 2.38 million shares and ending the period with 59,009 shares worth about $5.1 million.
• DexCom reported quarterly earnings of $0.73 per share, topping the $0.68 consensus estimate, while revenue rose 11.1% year over year to $1.34 billion.
• Analyst sentiment remained positive: DexCom had a consensus “Buy” rating and a $95.50 average price target, with 26 analysts rating it Strong Buy or Buy and two rating it Hold.

Jefferies Financial Group Inc. cut its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 97.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,009 shares of the medical device company's stock after selling 2,377,425 shares during the quarter. Jefferies Financial Group Inc.'s holdings in DexCom were worth $5,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new position in DexCom in the 2nd quarter valued at $782,000. Aurora Investment Counsel acquired a new stake in shares of DexCom during the 2nd quarter valued at approximately $2,340,000. E Fund Management Co. Ltd. purchased a new position in DexCom in the 2nd quarter valued at approximately $1,273,000. Silvant Capital Management LLC purchased a new position in DexCom in the 2nd quarter valued at approximately $5,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in DexCom during the second quarter worth $89,940,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DXCM has been the topic of several recent research reports. BTIG Research upped their price target on shares of DexCom from $90.00 to $96.00 and gave the company a "buy" rating in a report on Monday, October 12th. Weiss Ratings raised shares of DexCom from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 6th. Sanford C. Bernstein lifted their price objective on shares of DexCom from $77.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Royal Bank Of Canada restated an "outperform" rating and issued a $105.00 price target (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. Finally, Raymond James Financial restated a "strong-buy" rating and set a $97.00 price objective (up from $94.00) on shares of DexCom in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of "Buy" and a consensus target price of $95.50.

Insider Buying and Selling at DexCom

In related news, Director Nicholas Augustinos sold 6,539 shares of DexCom stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $549,537.56. Following the transaction, the director directly owned 29,293 shares in the company, valued at $2,461,783.72. The trade was a 18.25% decrease in their position. 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, EVP Sadie Stern sold 2,565 shares of the business's stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $78.62, for a total value of $201,660.30. Following the sale, the executive vice president directly owned 120,913 shares in the company, valued at $9,506,180.06. This trade represents a 2.08% 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 sold 22,822 shares of company stock valued at $1,920,193 in the last ninety days. Company insiders own 0.28% of the company's stock.

DexCom Stock Up 1.3%

DexCom stock opened at $81.39 on Friday. DexCom, Inc. has a 52 week low of $56.72 and a 52 week high of $92.59. The stock has a market cap of $30.35 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.33 and a beta of 1.45. The company's 50-day moving average price is $84.43 and its two-hundred day moving average price is $75.16. The company has a current ratio of 1.74, a quick ratio of 1.40 and a debt-to-equity ratio of 0.49.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.05. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that DexCom, Inc. will post 2.68 EPS for the current fiscal year.

DexCom Company Profile

DexCom, Inc. develops and markets continuous glucose monitoring (CGM) systems for people with diabetes. Its wearable sensors measure glucose levels throughout the day and send readings to compatible receivers or mobile devices, helping users monitor glucose trends and support treatment decisions. The company's products include its Dexcom G6 and G7 CGM systems, along with software and connected services for users and caregivers. DexCom also offers Stelo, an over-the-counter glucose biosensor designed for adults who do not use insulin.

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