Sumitomo Mitsui Trust Group Inc. Raises Position in DexCom, Inc. (NASDAQ:DXCM)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 952,600 shares of the medical device company's stock after acquiring an additional 6,715 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of DexCom worth $65,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Private Trust Co. NA grew its holdings in shares of DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock worth $26,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC lifted its position in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after purchasing an additional 264 shares during the last quarter. Optiver Holding B.V. purchased a new position in DexCom in the 4th quarter worth approximately $33,000. TD Private Client Wealth LLC increased its holdings in shares of DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after buying an additional 167 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after buying an additional 137 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Activity at DexCom

In related news, Director Nicholas Augustinos sold 3,672 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the sale, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the completion of the transaction, the director directly owned 56,621 shares in the company, valued at $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,190 shares of company stock worth $2,281,732 in the last three months. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on DXCM shares. Citigroup reiterated a "buy" rating and issued a $102.00 target price (up from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Cfra Research upgraded DexCom to a "hold" rating in a research report on Friday, March 21st. Truist Financial assumed coverage on DexCom in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 target price on the stock. Wells Fargo & Company reissued an "overweight" rating on shares of DexCom in a research report on Saturday, March 8th. Finally, Canaccord Genuity Group raised their price objective on shares of DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, DexCom currently has an average rating of "Moderate Buy" and a consensus target price of $98.50.

DexCom Stock Down 0.9%

DexCom stock traded down $0.76 during trading hours on Thursday, hitting $82.83. The stock had a trading volume of 1,840,682 shares, compared to its average volume of 4,388,816. The stock has a market capitalization of $32.48 billion, a P/E ratio of 61.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The stock's 50-day moving average price is $82.80 and its 200-day moving average price is $79.71. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $117.19.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the business earned $0.32 earnings per share. The company's quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.