Malaga Cove Capital LLC Cuts Stake in DexCom, Inc. (NASDAQ:DXCM)

Malaga Cove Capital LLC decreased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 16.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,331 shares of the medical device company’s stock after selling 644 shares during the period. Malaga Cove Capital LLC’s holdings in DexCom were worth $259,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DXCM. Forvis Mazars Wealth Advisors LLC raised its stake in DexCom by 0.7% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock worth $1,359,000 after acquiring an additional 118 shares during the period. Principal Securities Inc. raised its stake in DexCom by 3.4% during the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock worth $316,000 after acquiring an additional 135 shares during the period. Larson Financial Group LLC raised its stake in DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after acquiring an additional 137 shares during the period. Nia Impact Advisors LLC raised its stake in DexCom by 1.4% during the 4th quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company’s stock worth $766,000 after acquiring an additional 140 shares during the period. Finally, Level Four Advisory Services LLC raised its stake in DexCom by 1.1% during the 4th quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company’s stock worth $1,026,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on DXCM. Robert W. Baird decreased their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Canaccord Genuity Group lifted their price objective on shares of DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Mizuho began coverage on shares of DexCom in a research report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.11.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares of the company’s stock, valued at $7,432,268.76. The trade was a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jereme M. Sylvain sold 7,000 shares of DexCom stock in a transaction on Monday, March 10th. The stock was sold at an average price of $73.83, for a total transaction of $516,810.00. Following the transaction, the executive vice president now directly owns 135,482 shares of the company’s stock, valued at $10,002,636.06. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,926 shares of company stock valued at $4,734,384 over the last three months. 0.32% of the stock is owned by company insiders.

DexCom Trading Up 2.9%

Shares of DXCM opened at $86.52 on Thursday. The company’s fifty day moving average is $71.40 and its 200 day moving average is $77.41. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $132.26. The stock has a market capitalization of $33.93 billion, a PE ratio of 60.50, a P/E/G ratio of 2.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

DexCom Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.