First Trust Advisors LP Reduces Position in DexCom, Inc. $DXCM

Key Points

• First Trust Advisors LP cut its DexCom stake by 8.6% in the first quarter, selling 90,454 shares and leaving it with 958,632 shares worth about $60.2 million.
• DexCom reported strong quarterly results, posting $0.56 EPS versus $0.47 expected and revenue of $1.19 billion, up 15% year over year.
• Analysts remain broadly bullish on the stock, with a Moderate Buy consensus and an average price target of $85.36, while recent insider sales totaled 71,750 shares over the past three months.

First Trust Advisors LP trimmed its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 958,632 shares of the medical device company's stock after selling 90,454 shares during the period. First Trust Advisors LP owned 0.25% of DexCom worth $60,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its stake in DexCom by 14.8% during the fourth quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company's stock worth $74,000 after acquiring an additional 145 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock worth $30,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of DexCom by 1.8% in the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company's stock valued at $604,000 after purchasing an additional 172 shares in the last quarter. Essex Financial Services Inc. lifted its stake in shares of DexCom by 5.7% in the 1st quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company's stock valued at $204,000 after purchasing an additional 175 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of DexCom by 24.7% during the 3rd quarter. IFP Advisors Inc now owns 900 shares of the medical device company's stock worth $61,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 71,750 shares of company stock valued at $5,163,241 in the last three months. 0.28% of the stock is currently owned by company insiders.

DexCom Stock Performance

Shares of DXCM stock opened at $71.54 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The company's fifty day moving average price is $72.46 and its two-hundred day moving average price is $68.94. The firm has a market capitalization of $27.61 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.18 and a beta of 1.45. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm earned $0.32 earnings per share. The company's revenue was up 15.0% on a year-over-year basis. On average, research analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on DXCM shares. Raymond James Financial reissued a "strong-buy" rating and set a $91.00 target price on shares of DexCom in a research report on Monday, June 8th. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the company a "buy" rating in a research report on Monday, May 18th. Robert W. Baird set a $80.00 price objective on shares of DexCom in a research note on Friday, May 1st. Bank of America dropped their price objective on shares of DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Finally, Mizuho raised their target price on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, DexCom has a consensus rating of "Moderate Buy" and an average target price of $85.36.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.