Pinnacle Financial Partners Inc Acquires 9,398 Shares of DexCom, Inc. (NASDAQ:DXCM)

Pinnacle Financial Partners Inc grew its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 20.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,735 shares of the medical device company's stock after buying an additional 9,398 shares during the period. Pinnacle Financial Partners Inc's holdings in DexCom were worth $3,815,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Horizon Financial Services LLC acquired a new position in DexCom in the first quarter valued at about $56,000. DAVENPORT & Co LLC lifted its holdings in shares of DexCom by 17.2% during the 1st quarter. DAVENPORT & Co LLC now owns 45,136 shares of the medical device company's stock valued at $3,082,000 after purchasing an additional 6,615 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of DexCom by 1.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 47,984 shares of the medical device company's stock valued at $3,277,000 after purchasing an additional 721 shares in the last quarter. Kampmann Melissa S. grew its position in shares of DexCom by 13.3% in the 1st quarter. Kampmann Melissa S. now owns 37,785 shares of the medical device company's stock valued at $2,580,000 after purchasing an additional 4,450 shares during the period. Finally, Mather Group LLC. increased its stake in DexCom by 135.5% during the 1st quarter. Mather Group LLC. now owns 1,109 shares of the medical device company's stock worth $76,000 after purchasing an additional 638 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

DXCM has been the topic of several research reports. Wall Street Zen cut shares of DexCom from a "buy" rating to a "hold" rating in a research report on Sunday. The Goldman Sachs Group initiated coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 price target on the stock. Truist Financial initiated coverage on DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective for the company. Citigroup reissued a "buy" rating and issued a $102.00 target price (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Finally, Mizuho assumed coverage on DexCom in a research report on Thursday, April 10th. They set an "outperform" rating and a $85.00 price target for the company. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.50.

DexCom Stock Performance

Shares of DXCM stock traded down $0.85 on Thursday, reaching $82.73. The stock had a trading volume of 1,841,055 shares, compared to its average volume of 4,388,817. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $117.19. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 61.74, a P/E/G ratio of 1.78 and a beta of 1.44. The firm's 50-day moving average is $82.80 and its two-hundred day moving average is $79.71. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share (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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $0.32 EPS. DexCom's quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 6,184 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the transaction, the executive vice president directly owned 109,621 shares of the company's stock, valued at $9,329,843.31. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $83.13, for a total transaction of $228,607.50. Following the sale, the director directly owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,190 shares of company stock valued at $2,281,732. 0.32% of the stock is owned by company insiders.

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.