DexCom, Inc. $DXCM Stock Sold by Provident Investment Management Inc.

Provident Investment Management Inc. reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 3.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,810 shares of the medical device company’s stock after selling 11,764 shares during the period. DexCom accounts for about 3.2% of Provident Investment Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Provident Investment Management Inc. owned about 0.10% of DexCom worth $31,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 worth $758,487,000 after purchasing an additional 1,515,702 shares during the period. Janus Henderson Group PLC boosted its position in DexCom by 32.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock valued at $166,077,000 after purchasing an additional 645,534 shares during the period. Legal & General Group Plc acquired a new position in DexCom during the 2nd quarter valued at approximately $173,237,000. Arrowstreet Capital Limited Partnership boosted its position in DexCom by 100.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after purchasing an additional 1,275,142 shares during the period. Finally, Deutsche Bank AG bought a new position in DexCom during the 2nd quarter worth $164,035,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark G. Foletta sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the completion of the transaction, the director owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of DexCom stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $83.27, for a total value of $302,936.26. Following the transaction, the executive vice president directly owned 146,828 shares in the company, valued at approximately $12,226,367.56. The trade was a 2.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 24,257 shares of company stock worth $2,049,173. 0.28% of the stock is owned by corporate insiders.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $77.94 on Monday. The company has a 50 day moving average of $86.79 and a 200-day moving average of $76.63. The firm has a market cap of $29.41 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.31 and a beta of 1.48. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DXCM shares. Raymond James Financial reissued a “strong-buy” rating and set a $94.00 target price on shares of DexCom in a research note on Friday, July 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $105.00 price target (up from $90.00) on shares of DexCom in a research note on Thursday, October 1st. Canaccord Genuity Group set a $90.00 price target on shares of DexCom and gave the company a “buy” rating in a research note on Monday, August 3rd. Argus lifted their price target on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, TD Cowen reiterated a “buy” rating and set a $95.00 price objective on shares of DexCom in a research report on Friday, September 18th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $92.43.

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.