Principal Financial Group Inc. Cuts Stock Holdings in DexCom, Inc. $DXCM

Principal Financial Group Inc. lowered its stake in DexCom, Inc. (NASDAQ:DXCM) by 28.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,911 shares of the medical device company’s stock after selling 229,965 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of DexCom worth $38,080,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DXCM. Thrivent Financial for Lutherans increased its stake in DexCom by 38.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 176,416 shares of the medical device company’s stock worth $11,871,000 after purchasing an additional 48,749 shares during the period. National Pension Service increased its position in shares of DexCom by 0.5% in the third quarter. National Pension Service now owns 560,353 shares of the medical device company’s stock valued at $37,706,000 after acquiring an additional 2,976 shares during the period. AlphaQuest LLC boosted its holdings in shares of DexCom by 187.9% during the third quarter. AlphaQuest LLC now owns 6,866 shares of the medical device company’s stock worth $462,000 after purchasing an additional 4,481 shares during the period. Arizona State Retirement System grew its stake in shares of DexCom by 1.4% in the third quarter. Arizona State Retirement System now owns 116,115 shares of the medical device company’s stock worth $7,813,000 after purchasing an additional 1,548 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in DexCom by 27.8% during the 3rd quarter. AE Wealth Management LLC now owns 31,574 shares of the medical device company’s stock valued at $2,125,000 after purchasing an additional 6,873 shares during the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Performance

Shares of DexCom stock opened at $69.89 on Friday. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $93.25. The firm’s 50-day moving average is $68.54 and its 200 day moving average is $70.50. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 1.27 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.56 and a quick ratio of 1.38.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DXCM shares. Piper Sandler reissued an “overweight” rating on shares of DexCom in a research report on Thursday. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Mizuho increased their price objective on DexCom from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. BTIG Research lowered their price objective on DexCom from $109.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $82.00 target price (down from $94.00) on shares of DexCom in a research report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Insider Activity

In other news, COO Jacob Steven Leach acquired 18,200 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $55.04 per share, for a total transaction of $1,001,728.00. Following the acquisition, the chief operating officer directly owned 331,697 shares in the company, valued at approximately $18,256,602.88. The trade was a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard Alexander Collins sold 2,906 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $59.05, for a total value of $171,599.30. Following the sale, the director owned 35,088 shares in the company, valued at approximately $2,071,946.40. This represents a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,866 shares of company stock worth $448,177 over the last 90 days. 0.32% of the stock is currently owned by insiders.

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.