Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its DexCom stake by 5% in the first quarter, selling 48,228 shares and leaving it with 908,936 shares worth about $57.1 million.
• DexCom continues to draw strong institutional and analyst attention: hedge funds own 97.75% of the stock, and analysts rate it Moderate Buy with an average price target of $84.88.
• The company posted solid quarterly results, with earnings of $0.56 per share and revenue of $1.19 billion, both beating expectations, while revenue rose 15% year over year.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 908,936 shares of the medical device company's stock after selling 48,228 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of DexCom worth $57,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DXCM. Resona Asset Management Co. Ltd. grew its position in DexCom by 1.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 124,031 shares of the medical device company's stock valued at $7,766,000 after acquiring an additional 1,448 shares in the last quarter. Isthmus Partners LLC lifted its position in shares of DexCom by 3.5% during the first quarter. Isthmus Partners LLC now owns 182,654 shares of the medical device company's stock worth $11,471,000 after purchasing an additional 6,201 shares in the last quarter. Seelaus Asset Management LLC purchased a new position in shares of DexCom in the first quarter valued at $245,000. Ascentis Independent Advisors purchased a new position in shares of DexCom in the first quarter valued at $25,000. Finally, Argus Investors Counsel Inc. acquired a new stake in DexCom during the 1st quarter valued at $1,152,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Buying and Selling at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director owned 25,007 shares of the company's stock, valued at $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the transaction, the director owned 52,852 shares of the company's stock, valued at approximately $3,917,918.76. The trade was a 7.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 73,450 shares of company stock worth $5,270,409. 0.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DXCM. William Blair raised shares of DexCom to a "strong-buy" rating in a research note on Friday, May 15th. Mizuho set a $85.00 price objective on shares of DexCom and gave the company an "outperform" rating in a research report on Tuesday, June 9th. Wall Street Zen downgraded DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Benchmark reaffirmed a "buy" rating on shares of DexCom in a research report on Tuesday, June 23rd. Finally, Canaccord Genuity Group set a $82.00 price target on DexCom and gave the stock a "buy" rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.88.

DexCom Stock Performance

DXCM traded up $1.94 during trading hours on Friday, hitting $74.96. 3,856,779 shares of the stock were exchanged, compared to its average volume of 4,451,275. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. The stock has a 50-day simple moving average of $69.62 and a 200-day simple moving average of $68.44. 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, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm's revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. Analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current year.

About DexCom

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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