DexCom, Inc. $DXCM Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 28.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 125,762 shares of the medical device company’s stock after selling 50,654 shares during the period. Thrivent Financial for Lutherans’ holdings in DexCom were worth $8,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DXCM. Brighton Jones LLC raised its position in shares of DexCom by 257.7% during the 4th quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after buying an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of DexCom by 6.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after buying an additional 196 shares in the last quarter. Empowered Funds LLC raised its position in shares of DexCom by 5.4% during the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after buying an additional 436 shares in the last quarter. Focus Partners Wealth raised its position in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after buying an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after buying an additional 258 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $59.91, for a total transaction of $101,847.00. Following the sale, the executive vice president owned 109,504 shares in the company, valued at $6,560,384.64. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the sale, the director owned 25,007 shares in the company, valued at $1,500,670.07. This represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,112 shares of company stock worth $379,990 in the last 90 days. 0.28% of the stock is owned by company insiders.

Key Headlines Impacting DexCom

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom announced Dexcom Flex in Germany, expanding CGM access to a broader Type 2 diabetes population using basal insulin, oral medications, or GLP-1 therapies. Dexcom Announces Dexcom Flex in Germany
• Positive Sentiment: Bank of America lowered its price target to $80 from $100 but kept a buy rating, which still implies upside from current levels. Benzinga report on Bank of America price target
• Neutral Sentiment: Barclays reiterated its sell rating on DexCom, adding a bearish counterpoint that may limit enthusiasm. Barclays sticks to its sell rating
• Negative Sentiment: EVP Michael Jon Brown sold 1,700 shares in a pre-arranged Rule 10b5-1 transaction, which is routine but can still weigh on sentiment when investors are watching insider activity closely. SEC Form 4 filing

DexCom Stock Up 2.9%

NASDAQ DXCM opened at $66.95 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The company’s 50 day simple moving average is $63.33 and its 200 day simple moving average is $65.82. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The company has a market capitalization of $25.83 billion, a P/E ratio of 28.61, a PEG ratio of 1.12 and a beta of 1.40.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts expect that DexCom, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Tuesday, March 24th. Raymond James Financial set a $81.00 price target on shares of DexCom in a research report on Friday, May 1st. Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Wells Fargo & Company dropped their target price on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, Bank of America dropped their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

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.