Beacon Investment Advisory Services Inc. Reduces Position in DexCom, Inc. $DXCM

Beacon Investment Advisory Services Inc. trimmed its holdings in DexCom, Inc. (NASDAQ:DXCM) by 5.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 242,672 shares of the medical device company’s stock after selling 14,691 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in DexCom were worth $16,344,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Reflection Asset Management bought a new position in DexCom during the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors bought a new stake in DexCom in the 1st quarter worth approximately $25,000. MCF Advisors LLC purchased a new stake in DexCom during the 4th quarter valued at $32,000. Wellington Grp LLC raised its stake in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after buying an additional 475 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of DexCom during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several research analyst reports. Weiss Ratings lowered DexCom from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. increased their target price on DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company raised their target price on DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Argus upped their price target on shares of DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays reiterated an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,759 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the transaction, the insider directly owned 382,482 shares in the company, valued at approximately $27,538,704. The trade was a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the sale, the executive vice president directly owned 100,361 shares of the company’s stock, valued at $7,326,353. This represents a 4.67% 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. Insiders sold 102,506 shares of company stock valued at $7,535,898 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

DexCom Price Performance

Shares of DexCom stock opened at $84.75 on Friday. DexCom, Inc. has a one year low of $54.11 and a one year high of $87.85. The stock’s fifty day moving average is $74.42 and its 200 day moving average is $69.73. The stock has a market cap of $31.98 billion, a P/E ratio of 33.50, a P/E/G ratio of 1.39 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $0.48 earnings per share. DexCom’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that DexCom, Inc. will post 2.65 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.