Thrivent Financial for Lutherans Cuts Stock Position in DexCom, Inc. $DXCM

Key Points

• Thrivent Financial for Lutherans cut its DexCom stake by 28.7% in the fourth quarter, selling 50,654 shares and leaving it with 125,762 shares worth about $8.35 million.
• DexCom reported better-than-expected first-quarter results, posting $0.56 EPS on $1.19 billion in revenue, with revenue up 15% year over year.
• Analyst sentiment remains mixed but mostly positive: several firms kept buy ratings, though Bank of America trimmed its price target to $80 and Barclays reiterated a sell rating. The stock was trading around $66.95, up 2.9% on the day.

Thrivent Financial for Lutherans lessened its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,762 shares of the medical device company's stock after selling 50,654 shares during the period. Thrivent Financial for Lutherans' holdings in DexCom were worth $8,347,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Holocene Advisors LP bought a new stake in shares of DexCom in the 3rd quarter worth about $163,964,000. CIBC Private Wealth Group LLC increased its position in shares of DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock worth $195,666,000 after purchasing an additional 2,294,709 shares during the last quarter. Vanguard Group Inc. increased its position in shares of DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares during the last quarter. Iron Triangle Partners LP bought a new stake in shares of DexCom in the 3rd quarter worth about $57,196,000. Finally, DNB Asset Management AS increased its position in shares of DexCom by 271.8% in the 3rd quarter. DNB Asset Management AS now owns 1,098,544 shares of the medical device company's stock worth $73,921,000 after purchasing an additional 803,086 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Trading Up 2.9%

NASDAQ DXCM opened at $66.95 on Wednesday. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a 50-day simple moving average of $63.33 and a 200-day simple moving average of $65.82. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The firm has a market capitalization of $25.83 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40.

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

DexCom News Roundup

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom announced Dexcom Flex in Germany, expanding CGM access to a broader Type 2 diabetes population using basal insulin, oral medications, or GLP-1 therapies. Dexcom Announces Dexcom Flex in Germany
• Positive Sentiment: Bank of America lowered its price target to $80 from $100 but kept a buy rating, which still implies upside from current levels. Benzinga report on Bank of America price target
• Neutral Sentiment: Barclays reiterated its sell rating on DexCom, adding a bearish counterpoint that may limit enthusiasm. Barclays sticks to its sell rating
• Negative Sentiment: EVP Michael Jon Brown sold 1,700 shares in a pre-arranged Rule 10b5-1 transaction, which is routine but can still weigh on sentiment when investors are watching insider activity closely. SEC Form 4 filing

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of DexCom in a research report on Monday, May 11th. They issued a "buy" rating and a $77.00 target price for the company. BTIG Research reaffirmed a "buy" rating and issued a $85.00 price target on shares of DexCom in a report on Monday, March 9th. Wells Fargo & Company decreased their price target on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, February 13th. Weiss Ratings raised shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Finally, Bank of America decreased their price target on shares of DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.21.

Insider Transactions at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares of the company's stock, valued at $1,500,670.07. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president directly owned 111,204 shares of the company's stock, valued at $7,010,300.16. The trade was a 1.51% 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. Insiders have sold a total of 6,112 shares of company stock valued at $379,990 over the last three months. 0.28% of the stock is currently owned by company insiders.

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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