Principal Financial Group Inc. Raises Holdings in DexCom, Inc. (NASDAQ:DXCM)

Principal Financial Group Inc. raised its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 37.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 804,917 shares of the medical device company's stock after acquiring an additional 219,965 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of DexCom worth $54,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company's stock valued at $775,256,000 after buying an additional 56,094 shares during the last quarter. Norges Bank purchased a new stake in shares of DexCom during the fourth quarter valued at $385,367,000. Northern Trust Corp boosted its position in shares of DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after buying an additional 753,857 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of DexCom by 12.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,853,565 shares of the medical device company's stock valued at $144,152,000 after buying an additional 201,181 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of DexCom by 8.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,243,776 shares of the medical device company's stock valued at $96,728,000 after buying an additional 100,300 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DXCM shares. Piper Sandler dropped their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird dropped their price objective on DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $102.00 price objective (up from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Mizuho assumed coverage on DexCom in a research report on Thursday, April 10th. They issued an "outperform" rating and a $85.00 target price on the stock. Finally, Barclays raised their target price on DexCom from $90.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.50.

DexCom Price Performance

NASDAQ:DXCM traded up $0.01 during trading hours on Monday, reaching $82.94. The stock had a trading volume of 2,782,214 shares, compared to its average volume of 4,406,698. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $117.19. The company has a 50 day moving average price of $83.26 and a two-hundred day moving average price of $79.85. The stock has a market capitalization of $32.52 billion, a PE ratio of 61.90, a PEG ratio of 1.77 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DexCom news, Director Nicholas Augustinos sold 3,672 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $304,041.60. Following the transaction, the director owned 33,411 shares of the company's stock, valued at $2,766,430.80. This represents a 9.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Sadie Stern sold 6,184 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 109,621 shares in the company, valued at $9,329,843.31. This trade represents a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,190 shares of company stock worth $2,281,732. 0.32% of the stock is owned by company insiders.

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.