DexCom, Inc. $DXCM Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 922,710 shares of the medical device company’s stock after selling 34,656 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DexCom were worth $79,621,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of DexCom by 15.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock valued at $758,487,000 after acquiring an additional 1,515,702 shares during the period. Legal & General Group Plc bought a new position in DexCom in the 2nd quarter worth $173,237,000. Janus Henderson Group PLC boosted its holdings in DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock worth $166,077,000 after buying an additional 645,534 shares during the period. Deutsche Bank AG purchased a new stake in DexCom in the 2nd quarter worth $164,035,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock worth $159,832,000 after buying an additional 1,275,142 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays boosted their price objective on DexCom from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Citigroup upped their price target on DexCom from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Canaccord Genuity Group lifted their price objective on shares of DexCom from $90.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Leerink Partners lowered their target price on shares of DexCom from $94.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday, October 26th. Finally, Wall Street Zen upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research report on Sunday, September 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $95.50.

Insider Buying and Selling

In other DexCom news, EVP Jereme Sylvain sold 3,638 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $83.27, for a total transaction of $302,936.26. Following the transaction, the executive vice president owned 146,828 shares in the company, valued at $12,226,367.56. The trade was a 2.42% decrease in their ownership of the stock. The transaction 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 Nicholas Augustinos sold 6,539 shares of DexCom stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the transaction, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. This represents a 18.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,822 shares of company stock valued at $1,920,193. Insiders own 0.28% of the company’s stock.

Key DexCom News

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom is set to launch its 15-day G7 continuous glucose monitoring system in Canada in November. The longer sensor wear period may improve convenience and broaden patient access, supporting international growth prospects. DexCom to Launch 15-Day G7 CGM System in Canada This November
• Positive Sentiment: Analyst sentiment remains favorable: Leerink Partners reaffirmed its Buy rating, while Canaccord Genuity raised its target to $97 and UBS lifted its target to $107, both maintaining Buy ratings. Higher targets signal continued analyst confidence in DexCom’s outlook. Leerink Partners Reaffirms Their Buy Rating on Dexcom Canaccord Genuity Group recommendations UBS Group recommendations
• Neutral Sentiment: DexCom launched a campaign inviting people in the global diabetes community to share their experiences. The initiative may support awareness and engagement, but no direct financial impact was specified. A Letter to Diabetes campaign

DexCom Trading Down 2.1%

Shares of DXCM opened at $82.97 on Wednesday. The stock has a market capitalization of $30.94 billion, a PE ratio of 32.54, a P/E/G ratio of 1.40 and a beta of 1.45. The company’s fifty day moving average is $85.51 and its 200 day moving average is $74.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.40 and a current ratio of 1.74. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $92.59.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. Sell-side analysts expect that DexCom, Inc. will post 2.68 earnings per share for the current fiscal year.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.