Sumitomo Mitsui Trust Group Inc. Sells 34,656 Shares of DexCom, Inc. $DXCM

Sumitomo Mitsui Trust Group Inc. cut its stake in DexCom, Inc. (NASDAQ:DXCM) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 922,710 shares of the medical device company’s stock after selling 34,656 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of DexCom worth $79,621,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DXCM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in DexCom by 15.6% in the second 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 buying an additional 1,515,702 shares during the period. Janus Henderson Group PLC grew its holdings in shares of 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 worth $166,077,000 after acquiring an additional 645,534 shares during the period. Legal & General Group Plc bought a new position in shares of DexCom in the 2nd quarter worth approximately $173,237,000. Arrowstreet Capital Limited Partnership raised its position in shares of DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock worth $159,832,000 after acquiring an additional 1,275,142 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of DexCom in the 2nd quarter valued at approximately $164,035,000. Institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $82.97 on Wednesday. The firm has a market cap of $30.94 billion, a P/E ratio of 32.54, a PEG ratio of 1.40 and a beta of 1.45. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 0.49. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a 50 day moving average of $85.51 and a 200 day moving average of $74.79.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, research analysts expect that DexCom, Inc. will post 2.68 EPS for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, Director Nicholas Augustinos sold 6,539 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total value of $549,537.56. Following the transaction, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. This trade represents a 18.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $85.48, for a total value of $145,316.00. Following the sale, the executive vice president owned 98,185 shares of the company’s stock, valued at approximately $8,392,853.80. This represents a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,822 shares of company stock valued at $1,920,193 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DXCM has been the subject of a number of research reports. Barclays increased their price objective on DexCom from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Stifel Nicolaus set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, July 31st. Leerink Partners lowered their price target on shares of DexCom from $94.00 to $87.00 and set an “outperform” rating for the company in a research report on Monday, October 26th. Evercore upped their price objective on shares of DexCom from $90.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Finally, Citigroup raised their target price on shares of DexCom from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $95.50.

DexCom News Roundup

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom is set to launch its 15-day G7 continuous glucose monitoring system in Canada in November. The longer sensor wear period may improve convenience and broaden patient access, supporting international growth prospects. DexCom to Launch 15-Day G7 CGM System in Canada This November
• Positive Sentiment: Analyst sentiment remains favorable: Leerink Partners reaffirmed its Buy rating, while Canaccord Genuity raised its target to $97 and UBS lifted its target to $107, both maintaining Buy ratings. Higher targets signal continued analyst confidence in DexCom’s outlook. Leerink Partners Reaffirms Their Buy Rating on Dexcom Canaccord Genuity Group recommendations UBS Group recommendations
• Neutral Sentiment: DexCom launched a campaign inviting people in the global diabetes community to share their experiences. The initiative may support awareness and engagement, but no direct financial impact was specified. A Letter to Diabetes campaign

About DexCom

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.