DexCom, Inc. $DXCM Stock: Bank Pictet & Cie Europe AG Trims Stake

Bank Pictet & Cie Europe AG trimmed its position in DexCom, Inc. (NASDAQ:DXCM) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,301 shares of the medical device company’s stock after selling 8,524 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in DexCom were worth $13,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of DexCom during the second quarter worth $173,237,000. Deutsche Bank AG acquired a new position in shares of DexCom in the second quarter valued at about $164,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 valued at $758,487,000 after acquiring an additional 1,515,702 shares in the last quarter. SG Americas Securities LLC increased its position in DexCom by 271.4% during the first quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company’s stock worth $129,699,000 after acquiring an additional 1,509,219 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in DexCom during the second quarter worth about $89,940,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Price Performance

DXCM stock traded down $0.40 during midday trading on Tuesday, reaching $85.58. 724,113 shares of the stock were exchanged, compared to its average volume of 4,950,859. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $92.59. The company has a fifty day moving average price of $87.58 and a 200 day moving average price of $76.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock has a market capitalization of $32.29 billion, a PE ratio of 33.81, a P/E/G ratio of 1.44 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.48 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Brown sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $85.48, for a total value of $145,316.00. Following the completion of the transaction, the executive vice president owned 98,185 shares in the company, valued at $8,392,853.80. This trade represents a 1.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of DexCom stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $86.15, for a total transaction of $220,974.75. Following the sale, the executive vice president owned 123,478 shares in the company, valued at approximately $10,637,629.70. This represents a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 24,257 shares of company stock valued at $2,049,173 over the last three months. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Benchmark boosted their price target on DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 31st. UBS Group set a $96.00 price objective on DexCom and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen raised DexCom from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. Deutsche Bank Aktiengesellschaft began coverage on DexCom in a report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price objective for the company. Finally, BTIG Research upped their target price on DexCom from $90.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, DexCom has a consensus rating of “Buy” and a consensus target price of $92.43.

DexCom Company Profile

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.