Northern Trust Corp Sells 259,076 Shares of DexCom, Inc. $DXCM

Key Points

• Northern Trust Corp has decreased its position in DexCom, Inc. by 6.2%, owning 3,887,173 shares after selling 259,076 shares during the quarter, representing about 0.99% of DexCom.
• Other hedge funds, like Brighton Jones LLC, significantly increased their stakes in DexCom, with Brighton Jones boosting its position by 257.7%.
• DexCom reported a quarterly earnings per share of $0.48, beating the consensus estimate of $0.45, with revenue of $1.16 billion, up 15.2% year-over-year.

Northern Trust Corp lowered its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,887,173 shares of the medical device company's stock after selling 259,076 shares during the quarter. Northern Trust Corp owned 0.99% of DexCom worth $265,455,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DXCM. Golden State Wealth Management LLC boosted its holdings in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after buying an additional 264 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of DexCom in the 1st quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new stake in shares of DexCom in the 4th quarter valued at approximately $33,000. Heck Capital Advisors LLC acquired a new stake in shares of DexCom in the 4th quarter valued at approximately $38,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of DexCom in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Stock Performance

DexCom stock traded up $1.64 during mid-day trading on Friday, hitting $82.26. 3,666,928 shares of the company's stock traded hands, compared to its average volume of 4,009,486. The firm has a 50 day simple moving average of $82.81 and a two-hundred day simple moving average of $79.83. 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 $32.26 billion, a price-to-earnings ratio of 57.13, a P/E/G ratio of 1.72 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. DexCom has set its FY 2025 guidance at EPS. On average, research analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Oppenheimer increased their price objective on DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Canaccord Genuity Group reissued a "buy" rating and issued a $106.00 price objective on shares of DexCom in a report on Friday, August 1st. Robert W. Baird cut their price objective on DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Truist Financial initiated coverage on DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price target for the company. Finally, 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, July 31st. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.89.

Insider Transactions at DexCom

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of the stock in a transaction on Monday, June 16th. The stock was 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 in the company, valued at $2,766,430.80. This trade represents a 9.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the transaction, the director owned 51,121 shares in the company, valued at $4,143,868.26. The trade was a 5.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,906 shares of company stock worth $1,832,451 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

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.