TIAA Trust National Association Decreases Holdings in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• TIAA Trust National Association has reduced its stake in DexCom, Inc. by 61.4%, now holding 14,821 shares valued at approximately $1.01 million, following the sale of 23,566 shares.
• DexCom reported a quarterly earnings per share of $0.48, exceeding the analysts' expectations of $0.45, along with a revenue of $1.16 billion, marking a 15.2% year-over-year increase.
• Analysts remain optimistic, with a consensus rating of "Buy" and a target price averaging $99.89, as four investment analysts rate the stock as "hold" and fifteen as "buy."

TIAA Trust National Association reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 61.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,821 shares of the medical device company's stock after selling 23,566 shares during the quarter. TIAA Trust National Association's holdings in DexCom were worth $1,012,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DXCM. Golden State Wealth Management LLC raised its stake in shares of DexCom by 211.2% during the 1st 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 period. Optiver Holding B.V. bought a new position in shares of DexCom in the fourth quarter worth $33,000. Heck Capital Advisors LLC bought a new position in shares of DexCom in the fourth quarter worth $38,000. Alpine Bank Wealth Management bought a new position in DexCom in the 1st quarter worth about $40,000. Finally, Private Trust Co. NA increased its stake in DexCom by 99.4% in the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after acquiring an additional 335 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 firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the sale, the director owned 33,411 shares in the company, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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. In the last 90 days, insiders sold 28,656 shares of company stock worth $2,412,191. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on DXCM shares. Robert W. Baird lowered their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. William Blair upgraded shares of DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. Raymond James Financial lifted their target price on shares of DexCom from $99.00 to $102.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group reiterated a "buy" rating and issued a $106.00 price objective on shares of DexCom in a report on Friday, August 1st. Finally, Mizuho lifted their price target on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, DexCom currently has a consensus rating of "Buy" and an average price target of $99.89.

DexCom Stock Up 1.2%

DXCM stock traded up $0.94 during trading on Wednesday, hitting $76.40. 4,827,560 shares of the stock traded hands, compared to its average volume of 3,924,715. The firm's 50 day moving average is $84.21 and its two-hundred day moving average is $80.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $93.25. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 53.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $0.43 EPS. The company's revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current 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.