DexCom, Inc. $DXCM Holdings Decreased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,583 shares of the medical device company’s stock after selling 7,205 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in DexCom were worth $8,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DXCM. Brighton Jones LLC raised its position in DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC raised its position in DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after acquiring an additional 436 shares in the last quarter. Focus Partners Wealth raised its position in DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after acquiring an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on DXCM. Bank of America dropped their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the stock a “buy” rating in a research report on Monday. Truist Financial reiterated a “buy” rating and issued a $80.00 price target (down from $82.00) on shares of DexCom in a research report on Tuesday, February 17th. Raymond James Financial set a $81.00 price target on shares of DexCom in a research report on Friday, May 1st. Finally, Sanford C. Bernstein set a $77.00 price target on shares of DexCom in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.21.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $101,847.00. Following the completion of the sale, the executive vice president directly owned 109,504 shares of the company’s stock, valued at approximately $6,560,384.64. The trade was a 1.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,112 shares of company stock valued at $379,990. 0.28% of the stock is currently owned by company insiders.

DexCom Trading Up 0.6%

NASDAQ:DXCM opened at $71.90 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The stock’s 50-day moving average is $63.46 and its two-hundred day moving average is $65.94. The stock has a market cap of $27.74 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.40.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. As a group, equities research analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

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.