Sumitomo Mitsui Trust Group Inc. Sells 15,977 Shares of DexCom, Inc. $DXCM

Key Points

• Sumitomo Mitsui Trust Group sold 15,977 shares of DexCom in Q4, trimming its stake by 1.6% to 957,164 shares worth roughly $63.53 million.
• Research firms show a consensus "Moderate Buy" rating with an average price target of $86.50, after recent target upgrades from Mizuho and Citigroup.
• DexCom beat Q4 estimates with $0.68 EPS (vs. $0.65 expected) and $1.26B revenue (+13.1% YoY), and institutional investors hold about 97.75% of the stock.

Sumitomo Mitsui Trust Group Inc. lowered its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 957,164 shares of the medical device company's stock after selling 15,977 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of DexCom worth $63,527,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DXCM. Gradient Investments LLC boosted its position in DexCom by 13.8% during the fourth quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company's stock worth $22,035,000 after purchasing an additional 40,343 shares during the period. E. Ohman J or Asset Management AB raised its position in shares of DexCom by 400.2% in the third quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company's stock valued at $5,214,000 after purchasing an additional 62,000 shares during the period. Zevenbergen Capital Investments LLC raised its position in shares of DexCom by 10.0% in the third quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company's stock valued at $46,123,000 after purchasing an additional 62,098 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DexCom by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company's stock worth $14,269,000 after buying an additional 21,352 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of DexCom by 118.6% in the fourth quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company's stock worth $16,988,000 after buying an additional 137,986 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DXCM shares. Mizuho raised their target price on shares of DexCom from $78.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Citigroup boosted their target price on shares of DexCom from $77.00 to $84.00 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. Barclays reaffirmed an "underweight" rating and issued a $72.00 price target (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Robert W. Baird set a $87.00 price objective on DexCom in a research note on Friday, February 13th. Finally, Piper Sandler reissued an "overweight" rating on shares of DexCom in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $86.50.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.85, for a total value of $110,245.00. Following the completion of the sale, the executive vice president owned 112,904 shares in the company, valued at approximately $7,321,824.40. This trade represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company's stock.

DexCom Price Performance

NASDAQ:DXCM opened at $62.95 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a fifty day moving average price of $67.84 and a 200 day moving average price of $66.83. The stock has a market cap of $24.23 billion, a P/E ratio of 29.98, a PEG ratio of 1.23 and a beta of 1.55.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. Analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current year.

DexCom 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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