Lyell Wealth Management LP Trims Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Lyell Wealth Management LP reduced its stake in DexCom, Inc. by 9.3%, leaving them with 54,992 shares valued at approximately $3.76 million at the end of the first quarter.
• In recent earnings, DexCom reported $1.16 billion in revenue for the quarter, surpassing analysts' estimates, and an EPS of $0.48, exceeding expectations by $0.03.
• Despite some adjustments in price targets from analysts, the general outlook remains positive, with 15 "buy" ratings and an average price target of $99.00 for DXCM stock.

Lyell Wealth Management LP decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,992 shares of the medical device company's stock after selling 5,621 shares during the period. Lyell Wealth Management LP's holdings in DexCom were worth $3,755,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in shares of DexCom by 37.7% in the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after acquiring an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of DexCom by 171.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after acquiring an additional 2,015,971 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of DexCom by 2,371.4% in the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock valued at $136,220,000 after acquiring an additional 1,914,019 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of DexCom in the 4th quarter valued at about $63,338,000. Finally, Northern Trust Corp boosted its position in shares of DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after purchasing an additional 753,857 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DXCM. Morgan Stanley increased their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Piper Sandler raised their price target on DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday. UBS Group raised their price target on DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a report on Thursday. Raymond James Financial raised their price target on DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a report on Thursday. Finally, Mizuho raised their price target on DexCom from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $99.89.

DexCom Stock Performance

DXCM traded down $1.49 on Friday, reaching $79.28. The company had a trading volume of 5,238,279 shares, compared to its average volume of 2,953,501. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $93.25. The stock has a market cap of $31.09 billion, a P/E ratio of 46.64, a P/E/G ratio of 1.68 and a beta of 1.43. The company's fifty day moving average is $84.57 and its 200 day moving average is $80.62. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.32 and a current ratio of 1.52.

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

Insider Buying and Selling at DexCom

In other DexCom news, Director Mark G. Foletta sold 2,750 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the completion of the sale, the director directly owned 56,621 shares in the company, valued at approximately $4,706,903.73. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $304,041.60. Following the transaction, the director owned 33,411 shares of the company's stock, valued at $2,766,430.80. This represents a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,656 shares of company stock worth $2,412,191 over the last ninety days. Insiders own 0.32% of the company's stock.

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.