DexCom, Inc. (NASDAQ:DXCM) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its stake in DexCom, Inc. by 78.7%, now owning approximately 31,283 shares valued at about $2.14 million after selling 115,737 shares.
• Other institutional investors, including Jennison Associates LLC and Massachusetts Financial Services Co. MA, have significantly increased their holdings in DexCom, indicating a strong interest in the company.
• Analysts have a positive outlook on DexCom, with a consensus rating of "Moderate Buy" and a price target averaging $99.89, despite one downgrade from "strong-buy" to "buy".

Mizuho Securities USA LLC cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 78.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,283 shares of the medical device company's stock after selling 115,737 shares during the period. Mizuho Securities USA LLC's holdings in DexCom were worth $2,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC increased its stake in shares of 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 buying an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of DexCom during the first quarter worth approximately $27,000. Optiver Holding B.V. purchased a new stake in shares of DexCom during the fourth quarter worth approximately $33,000. Heck Capital Advisors LLC purchased a new stake in shares of DexCom during the fourth quarter worth approximately $38,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of DexCom during the first quarter worth approximately $40,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DXCM has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of DexCom in a research note on Friday, May 30th. They issued a "buy" rating and a $104.00 price target on the stock. Canaccord Genuity Group reiterated a "buy" rating and issued a $106.00 price target on shares of DexCom in a research note on Friday, August 1st. Oppenheimer increased their price target on shares of DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Truist Financial initiated coverage on shares of DexCom in a research note on Monday, June 16th. They issued a "buy" rating and a $102.00 price target on the stock. Finally, William Blair upgraded shares of DexCom to a "strong-buy" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.89.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 10,000 shares of DexCom stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $84.28, for a total value of $842,800.00. Following the transaction, the executive vice president directly owned 95,602 shares of the company's stock, valued at $8,057,336.56. The trade was a 9.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated 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 transaction, the director directly owned 56,621 shares in the company, valued at $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,656 shares of company stock valued at $2,412,191. 0.32% of the stock is currently owned by company insiders.

DexCom Stock Performance

DXCM remained flat at $79.96 during midday trading on Thursday. The company's stock had a trading volume of 2,234,312 shares, compared to its average volume of 3,910,198. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of 55.53, a P/E/G ratio of 1.68 and a beta of 1.43. The firm has a 50-day simple moving average of $83.28 and a 200-day simple moving average of $80.19. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $93.25.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The company's revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. On average, equities analysts expect 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.