DexCom, Inc. (NASDAQ:DXCM) Position Trimmed by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in DexCom by 23.0%, selling 11,767 shares and holding 39,387 shares worth $2.69 million.
• Analysts have positive outlooks on DexCom, with multiple firms raising their price targets, including Mizuho to $100.00 and Citigroup to $102.00, with a consensus rating of "Moderate Buy."
• DexCom reported quarterly earnings with a net revenue of $1.04 billion, slightly exceeding expectations, but missed earnings per share estimates with a reported $0.32.

Pacer Advisors Inc. lessened its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,387 shares of the medical device company's stock after selling 11,767 shares during the quarter. Pacer Advisors Inc.'s holdings in DexCom were worth $2,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after buying an additional 11,946 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in DexCom by 1.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock worth $8,637,000 after buying an additional 2,010 shares during the period. Orion Portfolio Solutions LLC increased its stake in DexCom by 692.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 28,181 shares of the medical device company's stock worth $2,192,000 after buying an additional 24,624 shares during the period. Allstate Corp purchased a new stake in DexCom during the 4th quarter worth approximately $922,000. Finally, RWA Wealth Partners LLC purchased a new stake in DexCom during the 4th quarter worth approximately $231,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Insider Buying and Selling at DexCom

In related news, EVP Sadie Stern sold 6,184 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president directly owned 109,621 shares in the company, valued at approximately $9,329,843.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $228,607.50. Following the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,656 shares of company stock valued at $2,412,191. Insiders own 0.32% of the company's stock.

DexCom Stock Performance

NASDAQ DXCM traded down $8.29 during trading hours on Thursday, hitting $80.77. 9,277,495 shares of the stock were exchanged, compared to its average volume of 2,581,429. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 56.09, a price-to-earnings-growth ratio of 1.90 and a beta of 1.44. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. The stock has a 50-day moving average of $84.75 and a 200 day moving average of $80.62. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 32.05%. The business's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. As a group, equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

DXCM has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 price objective on the stock. Piper Sandler increased their price objective on shares of DexCom from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Wall Street Zen raised shares of DexCom from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. UBS Group increased their price objective on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Robert W. Baird dropped their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, DexCom has a consensus rating of "Moderate Buy" and a consensus target price 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.