Vestcor Inc Sells 8,784 Shares of DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Vestcor Inc reduced its stake in DexCom, Inc. by 55.5%, now holding 7,048 shares valued at approximately $481,000.
• Multiple investment firms have recently upgraded DexCom's stock rating, with Morgan Stanley raising its price target from $82.00 to $89.00 and describing the stock as "equal weight."
• Despite a decrease of 3.8% in stock price on Monday, DexCom reported earnings of $0.48 per share for the last quarter, surpassing analysts' expectations.

Vestcor Inc reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 55.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,048 shares of the medical device company's stock after selling 8,784 shares during the quarter. Vestcor Inc's holdings in DexCom were worth $481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC raised its holdings in DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company's stock worth $1,290,000 after purchasing an additional 11,946 shares during the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of DexCom by 1.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 111,063 shares of the medical device company's stock worth $8,637,000 after buying an additional 2,010 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of DexCom by 16.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,384 shares of the medical device company's stock worth $1,041,000 after buying an additional 1,930 shares in the last quarter. Alliancebernstein L.P. grew its stake in DexCom by 24.1% in the 4th quarter. Alliancebernstein L.P. now owns 555,164 shares of the medical device company's stock valued at $43,175,000 after acquiring an additional 107,916 shares during the last quarter. Finally, Huntington National Bank increased its holdings in DexCom by 94.5% during the 4th quarter. Huntington National Bank now owns 2,748 shares of the medical device company's stock valued at $214,000 after acquiring an additional 1,335 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 1,466 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $88.99, for a total transaction of $130,459.34. Following the completion of the sale, the executive vice president owned 106,689 shares in the company, valued at approximately $9,494,254.11. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $41,400.00. Following the completion of the sale, the executive vice president directly owned 95,102 shares of the company's stock, valued at $7,874,445.60. This represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,656 shares of company stock worth $2,412,191 in the last three months. Company insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup reiterated a "buy" rating and issued a $102.00 target price (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. UBS Group upped their target price on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Robert W. Baird lowered their price target on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Truist Financial began coverage on DexCom in a report on Monday, June 16th. They set a "buy" rating and a $102.00 target price on the stock. Finally, Oppenheimer increased their price objective on DexCom from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $99.89.

DexCom Stock Down 1.0%

Shares of DXCM traded down $0.79 during mid-day trading on Tuesday, hitting $75.46. The company's stock had a trading volume of 5,630,433 shares, compared to its average volume of 3,403,185. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $29.59 billion, a price-to-earnings ratio of 52.40, a PEG ratio of 1.60 and a beta of 1.43. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25. The company's 50-day moving average is $84.40 and its 200-day moving average is $80.54.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.43 EPS. DexCom's revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.