Mutual of America Capital Management LLC Lowers Position in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in DexCom by 7.0%, owning 49,238 shares valued at approximately $3.36 million after selling 3,692 shares.
• Analysts have varied views on DexCom, with target prices raised by firms like UBS Group (from $105 to $106) and Piper Sandler (from $90 to $100), contributing to an average price target of $99.89.
• DexCom reported $1.16 billion in revenue for the last quarter, an increase of 15.2% from the previous year, and beat earnings estimates by delivering $0.48 EPS versus the expected $0.45.

Mutual of America Capital Management LLC trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,238 shares of the medical device company's stock after selling 3,692 shares during the quarter. Mutual of America Capital Management LLC's holdings in DexCom were worth $3,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted 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 worth $27,000 after purchasing an additional 264 shares during the period. Optiver Holding B.V. acquired a new stake in shares of DexCom during the fourth quarter worth $33,000. Heck Capital Advisors LLC acquired a new stake in shares of DexCom during the fourth quarter worth $38,000. Alpine Bank Wealth Management acquired a new stake in shares of DexCom during the first quarter worth $40,000. Finally, Private Trust Co. NA lifted its holdings in shares of DexCom by 99.4% during the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after buying an additional 335 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Trading Up 3.0%

DXCM stock traded up $2.32 during trading on Tuesday, hitting $80.17. The company had a trading volume of 3,599,372 shares, compared to its average volume of 3,780,046. The business has a 50-day moving average of $83.40 and a 200-day moving average of $80.19. DexCom, Inc. has a one year low of $57.52 and a one year high of $93.25. The stock has a market cap of $31.44 billion, a PE ratio of 55.67, a PEG ratio of 1.63 and a beta of 1.43. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. Research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Nicholas Augustinos sold 3,672 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 33,411 shares of the company's stock, valued at $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Jon Brown sold 10,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $84.28, for a total value of $842,800.00. Following the transaction, the executive vice president directly owned 95,602 shares in the company, valued at $8,057,336.56. The trade was a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock valued at $2,412,191 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DXCM shares. Canaccord Genuity Group reissued a "buy" rating and set a $106.00 target price on shares of DexCom in a report on Friday, August 1st. Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a report on Sunday. Oppenheimer boosted their price target on DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group assumed coverage on DexCom in a research note on Friday, May 30th. They issued a "buy" rating and a $104.00 price target for the company. Finally, Barclays boosted their price target on DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

DexCom Company Profile

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.