J. Safra Sarasin Holding AG Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• J. Safra Sarasin Holding AG significantly reduced its stake in DexCom by 55.1%, selling 19,590 shares to hold a total of 15,985 shares worth approximately $1,092,000.
• Multiple hedge funds have increased their holdings in DexCom, with Bank of Nova Scotia raising its stake by 246.6% and OVERSEA CHINESE BANKING Corp Ltd increasing by 579.0%.
• Analysts remain optimistic about DexCom, with a consensus rating of "Buy" and an average price target of $99.89, reflecting positive expectations for the company’s growth.

J. Safra Sarasin Holding AG lessened its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 55.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,985 shares of the medical device company's stock after selling 19,590 shares during the quarter. J. Safra Sarasin Holding AG's holdings in DexCom were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Golden State Wealth Management LLC boosted its holdings 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 last quarter. Optiver Holding B.V. bought a new position in DexCom in the 4th quarter worth about $33,000. Heck Capital Advisors LLC bought a new position in DexCom in the 4th quarter worth $38,000. Alpine Bank Wealth Management bought a new stake in shares of DexCom during the 1st quarter valued at about $40,000. Finally, Private Trust Co. NA increased its position in DexCom by 99.4% in the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after purchasing an additional 335 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

Wall Street Analysts Forecast Growth

DXCM has been the subject of a number of research reports. Barclays boosted their target price on shares of DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Robert W. Baird reduced their target price on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $102.00 price target (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. The Goldman Sachs Group initiated coverage on DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price target for the company. Finally, Raymond James Financial lifted their price target on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $99.89.

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 6,184 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the sale, the executive vice president directly owned 109,621 shares of the company's stock, valued at approximately $9,329,843.31. The trade was a 5.34% decrease in their position. 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 company's 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. This represents a 4.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,656 shares of company stock valued at $2,412,191. Insiders own 0.32% of the company's stock.

DexCom Stock Performance

DexCom stock remained flat at $76.40 during mid-day trading on Thursday. 2,886,651 shares of the company's stock traded hands, compared to its average volume of 3,912,777. 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, Inc. has a twelve month low of $57.52 and a twelve month high of $93.25. The firm has a market capitalization of $29.96 billion, a PE ratio of 53.06, a price-to-earnings-growth ratio of 1.58 and a beta of 1.43. The business's 50 day moving average price is $84.21 and its two-hundred day moving average price is $80.50.

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

DexCom 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.