Praxis Investment Management Inc. Sells 5,700 Shares of DexCom, Inc. $DXCM

Key Points

• Praxis Investment Management Inc. has reduced its holdings in DexCom, Inc. by 47.9%, selling 5,700 shares and now owning 6,210 shares valued at approximately $542,000.
• DexCom reported a 15.2% year-over-year increase in revenue for the recent quarter, reaching $1.16 billion and beating analyst estimates.
• A majority of DexCom's stock, around 97.75%, is owned by institutional investors, indicating strong institutional interest in the company.

Praxis Investment Management Inc. cut its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 47.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,210 shares of the medical device company's stock after selling 5,700 shares during the quarter. Praxis Investment Management Inc.'s holdings in DexCom were worth $542,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DXCM. Golden State Wealth Management LLC increased its holdings in shares of DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after acquiring an additional 264 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of DexCom during the first quarter valued at about $27,000. Anderson Financial Strategies LLC acquired a new position in shares of DexCom during the first quarter valued at about $37,000. Alpine Bank Wealth Management acquired a new position in shares of DexCom during the first quarter valued at about $40,000. Finally, Private Trust Co. NA increased its holdings in shares of DexCom by 99.4% during the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after acquiring an additional 335 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $66.60 on Friday. The business's 50 day moving average price is $73.35 and its 200 day moving average price is $77.52. The firm has a market cap of $26.12 billion, a P/E ratio of 46.25, a P/E/G ratio of 1.39 and a beta of 1.47. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $93.25. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.

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

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 1,466 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total value of $117,280.00. Following the sale, the executive vice president owned 105,223 shares in the company, valued at approximately $8,417,840. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kyle Malady sold 667 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the sale, the director owned 22,667 shares in the company, valued at approximately $1,832,853.62. This represents a 2.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,849 shares of company stock worth $564,733. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DXCM has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of DexCom from $105.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, October 7th. Raymond James Financial upped their price objective on shares of DexCom from $99.00 to $102.00 and gave the company a "strong-buy" rating in a report on Thursday, July 31st. The Goldman Sachs Group cut their price objective on shares of DexCom from $104.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, October 1st. William Blair upgraded DexCom to a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Truist Financial dropped their target price on DexCom from $102.00 to $94.00 and set a "buy" rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.00.

DexCom Company 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.

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