DexCom, Inc. $DXCM Stock Holdings Trimmed by Smith Group Asset Management LLC

Smith Group Asset Management LLC reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 38.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 433,114 shares of the medical device company’s stock after selling 268,233 shares during the quarter. DexCom comprises about 2.4% of Smith Group Asset Management LLC’s holdings, making the stock its 16th largest position. Smith Group Asset Management LLC’s holdings in DexCom were worth $37,373,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DXCM. Plato Investment Management Ltd purchased a new position in DexCom during the 2nd quarter worth $782,000. Aurora Investment Counsel acquired a new position in DexCom in the second quarter valued at $2,340,000. Silvant Capital Management LLC acquired a new position in DexCom in the second quarter valued at $5,359,000. E Fund Management Co. Ltd. purchased a new stake in shares of DexCom in the second quarter valued at about $1,273,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of DexCom in the second quarter valued at about $89,940,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DXCM has been the subject of several recent research reports. Robert W. Baird set a $105.00 target price on shares of DexCom in a research note on Friday, July 31st. Weiss Ratings upgraded DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. Stifel Nicolaus set a $95.00 price target on DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. BTIG Research upped their price objective on DexCom from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price objective (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, DexCom presently has an average rating of “Buy” and an average target price of $92.43.

DexCom Trading Up 0.1%

Shares of DexCom stock opened at $78.62 on Thursday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The company’s 50-day simple moving average is $86.18 and its 200-day simple moving average is $74.54. The firm has a market cap of $29.67 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.31 and a beta of 1.48.

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

Insider Buying and Selling

In other news, Director Nicholas Augustinos sold 6,539 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the transaction, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. This represents a 18.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $78.62, for a total value of $201,660.30. Following the completion of the sale, the executive vice president directly owned 120,913 shares of the company’s stock, valued at $9,506,180.06. This represents a 2.08% 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 26,822 shares of company stock worth $2,250,833 in the last three months. Company insiders own 0.28% of the company’s stock.

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.