Praxis Investment Management Inc. Decreases Stock Holdings in DexCom, Inc. $DXCM

Praxis Investment Management Inc. decreased its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 47.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,210 shares of the medical device company’s stock after selling 5,700 shares during the period. Praxis Investment Management Inc.’s holdings in DexCom were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of DexCom by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company’s stock valued at $3,240,763,000 after buying an additional 925,882 shares in the last quarter. Jennison Associates LLC lifted its position in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company’s stock valued at $718,632,000 after buying an additional 2,879,489 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DexCom by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock valued at $691,336,000 after buying an additional 1,868,241 shares in the last quarter. Nuveen LLC purchased a new position in shares of DexCom during the 1st quarter valued at approximately $554,893,000. Finally, Raymond James Financial Inc. lifted its position in shares of DexCom by 21.8% during the 1st quarter. Raymond James Financial Inc. now owns 3,355,057 shares of the medical device company’s stock valued at $229,117,000 after buying an additional 601,088 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Up 0.4%

Shares of DXCM opened at $66.60 on Friday. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $93.25. The company has a market capitalization of $26.12 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.47. The stock has a fifty day simple moving average of $73.35 and a two-hundred day simple moving average of $77.52. The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.

DexCom (NASDAQ:DXCM) last issued its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.43 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DXCM. Canaccord Genuity Group reiterated a “buy” rating and set a $106.00 target price on shares of DexCom in a research report on Monday, September 29th. Morgan Stanley increased their price objective on DexCom from $82.00 to $89.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Oppenheimer downgraded DexCom from an “outperform” rating to a “market perform” rating in a research note on Monday, September 8th. Argus began coverage on DexCom in a research note on Thursday, August 21st. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Citigroup reduced their price objective on DexCom from $105.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Insider Buying and Selling

In other DexCom news, Director Kyle Malady sold 667 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the sale, the director directly owned 22,667 shares of the company’s stock, valued at $1,832,853.62. This trade represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares of the company’s stock, valued at $4,143,868.26. This trade represents a 5.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,849 shares of company stock valued at $564,733 over the last 90 days. Insiders own 0.32% of the company’s stock.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.