Patten & Patten Inc. TN Sells 18,399 Shares of DexCom, Inc. $DXCM

Key Points

• Patten & Patten Inc. TN reduced its DexCom stake by 22.2% in the fourth quarter, selling 18,399 shares and leaving it with 64,352 shares valued at about $4.27 million.
• DexCom has continued to attract strong institutional interest overall, with 97.75% of shares owned by institutional investors despite some recent buying and selling activity among funds.
• The company reported better-than-expected quarterly results, posting EPS of $0.56 on revenue of $1.19 billion, while analysts maintain a Moderate Buy consensus with an average price target of $83.50.

Patten & Patten Inc. TN trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,352 shares of the medical device company's stock after selling 18,399 shares during the period. Patten & Patten Inc. TN's holdings in DexCom were worth $4,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in DexCom by 48.5% during the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after acquiring an additional 147 shares during the period. ORG Partners LLC increased its stake in DexCom by 124.3% during the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after acquiring an additional 281 shares during the period. Spire Wealth Management grew its stake in shares of DexCom by 113.8% in the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock valued at $38,000 after purchasing an additional 305 shares during the period. Aventura Private Wealth LLC bought a new stake in shares of DexCom in the 4th quarter valued at approximately $43,000. Finally, Rothschild Investment LLC grew its stake in shares of DexCom by 59.9% in the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company's stock valued at $44,000 after purchasing an additional 245 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on DXCM. Citigroup reiterated a "buy" rating and issued a $79.00 price objective (down from $84.00) on shares of DexCom in a research note on Monday. Barclays set a $67.00 price objective on DexCom and gave the company an "underweight" rating in a research note on Friday, May 1st. Piper Sandler reiterated an "overweight" rating on shares of DexCom in a research note on Thursday, February 5th. Wall Street Zen upgraded DexCom from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, TD Cowen lowered their price objective on DexCom from $84.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $83.50.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the sale, the executive vice president directly owned 111,204 shares in the company, valued at $7,010,300.16. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.28% of the stock is currently owned by company insiders.

DexCom Stock Down 0.5%

NASDAQ DXCM opened at $60.61 on Friday. The firm has a market cap of $23.39 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The stock's 50 day simple moving average is $65.10 and its 200 day simple moving average is $66.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.DexCom's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that DexCom, Inc. will post 2.56 earnings per share for the current fiscal year.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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