Principal Financial Group Inc. Grows Stock Position in DexCom, Inc. $DXCM

Principal Financial Group Inc. boosted its holdings in DexCom, Inc. (NASDAQ:DXCM) by 31.0% during the first quarter, Holdings Channel.com reports. The fund owned 755,521 shares of the medical device company’s stock after acquiring an additional 179,004 shares during the period. Principal Financial Group Inc.’s holdings in DexCom were worth $47,447,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position 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 acquiring an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after purchasing an additional 196 shares during the last quarter. Empowered Funds LLC grew its position in shares of DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after purchasing an additional 436 shares during the last quarter. Focus Partners Wealth increased its stake in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after purchasing an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after purchasing an additional 258 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DXCM shares. Barclays reaffirmed an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft initiated coverage on DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price target for the company. Robert W. Baird set a $80.00 price objective on DexCom in a research report on Friday, May 1st. Citigroup restated a “buy” rating and issued a $84.00 price objective (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Finally, Benchmark reiterated a “buy” rating on shares of DexCom in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.36.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the transaction, the director directly owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the transaction, the director owned 25,007 shares of the company’s stock, valued at $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 71,750 shares of company stock valued at $5,163,241. 0.28% of the stock is currently owned by company insiders.

DexCom Stock Down 1.7%

Shares of NASDAQ DXCM opened at $76.65 on Friday. The firm has a market cap of $29.58 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The firm’s 50 day moving average price is $71.16 and its 200 day moving average price is $68.73.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.32 EPS. DexCom’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current year.

DexCom Company 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.