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

Sumitomo Mitsui Trust Group Inc. trimmed its stake in DexCom, Inc. (NASDAQ:DXCM) by 5.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 908,936 shares of the medical device company’s stock after selling 48,228 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in DexCom were worth $57,081,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of DexCom by 257.7% in the 4th 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 period. Integrated Wealth Concepts LLC boosted its stake in DexCom by 6.3% during the 1st 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 period. Empowered Funds LLC boosted its stake in DexCom by 5.4% during the 1st 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 period. Focus Partners Wealth grew its position in DexCom by 13.2% in 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 during the last quarter. Finally, NewEdge Advisors LLC grew its position in DexCom by 1.4% in 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 during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the insider owned 382,482 shares in the company, valued at $27,538,704. The trade was a 6.54% 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. In the last 90 days, insiders have sold 73,450 shares of company stock worth $5,270,409. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on DXCM shares. Robert W. Baird set a $80.00 price target on shares of DexCom in a research note on Friday, May 1st. Evercore raised DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Tuesday, March 24th. Raymond James Financial restated a “strong-buy” rating and issued a $91.00 target price on shares of DexCom in a research report on Monday, June 8th. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 target price (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Finally, Citigroup reaffirmed a “buy” rating and set a $84.00 target price (up from $79.00) on shares of DexCom in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.88.

DexCom Price Performance

Shares of DexCom stock traded up $1.94 during trading on Friday, hitting $74.96. The stock had a trading volume of 3,856,779 shares, compared to its average volume of 4,451,275. The business has a fifty day moving average of $69.62 and a two-hundred day moving average of $68.44. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The firm has a market cap of $28.92 billion, a P/E ratio of 32.03, a PEG ratio of 1.23 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $0.32 earnings per share. DexCom’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current fiscal 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.