New York State Teachers Retirement System Decreases Stake in DexCom, Inc. (NASDAQ:DXCM)

New York State Teachers Retirement System cut its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 16.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 299,679 shares of the medical device company's stock after selling 60,482 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of DexCom worth $20,465,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in shares of DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock worth $26,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC grew its position in DexCom by 211.2% in the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after acquiring an additional 264 shares in the last quarter. Optiver Holding B.V. purchased a new position in DexCom in the fourth quarter worth about $33,000. TD Private Client Wealth LLC increased its stake in DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after acquiring an additional 167 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Price Performance

Shares of DXCM stock opened at $83.58 on Thursday. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $117.19. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $82.80 and a two-hundred day simple moving average of $79.71. The stock has a market capitalization of $32.77 billion, a price-to-earnings ratio of 62.37, a P/E/G ratio of 1.78 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. On average, analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction that occurred 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 transaction, the director owned 56,621 shares of the company's stock, valued at $4,706,903.73. The trade was a 4.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sadie Stern sold 1,466 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $85.06, for a total transaction of $124,697.96. Following the transaction, the executive vice president owned 108,155 shares of the company's stock, valued at approximately $9,199,664.30. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,190 shares of company stock worth $2,281,732 in the last three months. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DXCM shares. Robert W. Baird dropped their target price on DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group initiated coverage on DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 price target for the company. Piper Sandler cut their price objective on shares of DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of DexCom from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Mizuho began coverage on shares of DexCom in a report on Thursday, April 10th. They issued an "outperform" rating and a $85.00 target price for the company. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and an average target price of $98.50.

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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