Leonteq Securities AG Sells 16,391 Shares of DexCom, Inc. $DXCM

Key Points

• Leonteq Securities AG cut its DexCom stake by 51.3% in the first quarter, selling 16,391 shares and leaving it with 15,574 shares worth about $978,000.
• DexCom reported stronger-than-expected quarterly results, with EPS of $0.56 versus the $0.47 estimate and revenue of $1.19 billion, up 15% year over year.
• Analyst sentiment remains constructive overall: the stock has a Moderate Buy consensus with an average price target of $84.88, though some firms have trimmed targets or issued cautious ratings.

Leonteq Securities AG trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 51.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,574 shares of the medical device company's stock after selling 16,391 shares during the quarter. Leonteq Securities AG's holdings in DexCom were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in DXCM. Brighton Jones LLC lifted its position in shares of DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock valued at $1,290,000 after purchasing an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock worth $227,000 after purchasing an additional 196 shares in the last quarter. Empowered Funds LLC increased its stake in DexCom by 5.4% in the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company's stock valued at $577,000 after buying an additional 436 shares during the last quarter. Focus Partners Wealth increased its stake in DexCom by 13.2% in the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company's stock valued at $493,000 after buying an additional 841 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company's stock worth $1,681,000 after buying an additional 258 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Price Performance

DexCom stock opened at $71.25 on Friday. The firm has a 50 day moving average price of $68.31 and a 200-day moving average price of $68.17. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a market capitalization of $27.49 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.17 and a beta of 1.45.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. DexCom's revenue was up 15.0% on a year-over-year basis. As a group, equities analysts predict that DexCom, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DXCM. Bank of America cut their target price on DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Piper Sandler reaffirmed an "overweight" rating and set a $88.00 price target (up from $75.00) on shares of DexCom in a research report on Monday, June 15th. Barclays reissued an "underweight" rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Raymond James Financial restated a "strong-buy" rating and issued a $91.00 price objective on shares of DexCom in a research note on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on DexCom in a research report on Tuesday, June 23rd. They set a "buy" rating and a $86.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and a consensus target price of $84.88.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $75.55, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the transaction, the executive vice president directly owned 95,450 shares in the company, valued at $7,075,708.50. This represents a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 46,694 shares of company stock valued at $3,343,977. Company insiders own 0.28% of the company's stock.

About DexCom

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.

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