New Age Alpha Advisors LLC Cuts Stake in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in DexCom, Inc. by 33.6%, now holding 125,490 shares valued at approximately $8.57 million after selling 63,557 shares in the first quarter.
• Several other institutional investors have increased their positions in DexCom, with ING Groep NV growing its holdings by an impressive 171.3%.
• DexCom recently reported a quarterly earnings per share (EPS) of $0.48, surpassing estimates and reflecting a 15.2% revenue increase compared to the previous year.

New Age Alpha Advisors LLC reduced its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 33.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,490 shares of the medical device company's stock after selling 63,557 shares during the quarter. New Age Alpha Advisors LLC's holdings in DexCom were worth $8,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Westfield Capital Management Co. LP grew its holdings in DexCom by 4.4% in the first quarter. Westfield Capital Management Co. LP now owns 2,447,743 shares of the medical device company's stock worth $167,156,000 after purchasing an additional 102,142 shares during the last quarter. Geneva Capital Management LLC grew its holdings in DexCom by 4.5% in the first quarter. Geneva Capital Management LLC now owns 118,072 shares of the medical device company's stock worth $8,063,000 after purchasing an additional 5,095 shares during the last quarter. Element Pointe Advisors LLC grew its holdings in DexCom by 7.1% in the first quarter. Element Pointe Advisors LLC now owns 4,249 shares of the medical device company's stock worth $290,000 after purchasing an additional 281 shares during the last quarter. ING Groep NV grew its holdings in DexCom by 171.3% in the first quarter. ING Groep NV now owns 207,798 shares of the medical device company's stock worth $14,191,000 after purchasing an additional 131,195 shares during the last quarter. Finally, Raiffeisen Bank International AG grew its holdings in DexCom by 17.0% in the first quarter. Raiffeisen Bank International AG now owns 26,760 shares of the medical device company's stock worth $1,813,000 after purchasing an additional 3,894 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

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 transaction of $228,607.50. Following the transaction, the director directly owned 56,621 shares of the company's stock, valued at approximately $4,706,903.73. This trade represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Jon Brown sold 10,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $84.28, for a total transaction of $842,800.00. Following the transaction, the executive vice president directly owned 95,602 shares in the company, valued at $8,057,336.56. The trade was a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,656 shares of company stock valued at $2,412,191. Company insiders own 0.32% of the company's stock.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $76.25 on Tuesday. The company's fifty day moving average price is $84.40 and its 200 day moving average price is $80.54. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $93.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The firm has a market capitalization of $29.90 billion, a P/E ratio of 52.95, a P/E/G ratio of 1.66 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DXCM. William Blair raised shares of DexCom to a "strong-buy" rating in a report on Thursday, July 31st. Truist Financial initiated coverage on shares of DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective on the stock. Barclays boosted their price objective on shares of DexCom from $93.00 to $98.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler boosted their price objective on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, DexCom has a consensus rating of "Buy" and an average price target of $99.89.

About DexCom

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.

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