Beacon Investment Advisory Services Inc. Reduces Stake in DexCom, Inc. $DXCM

Beacon Investment Advisory Services Inc. reduced its holdings in DexCom, Inc. (NASDAQ:DXCM) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 242,672 shares of the medical device company’s stock after selling 14,691 shares during the quarter. Beacon Investment Advisory Services Inc. owned about 0.06% of DexCom worth $16,344,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. BOKF NA boosted its stake in shares of DexCom by 175.7% during the 4th quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock valued at $2,344,000 after purchasing an additional 22,505 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in DexCom by 21.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock worth $69,211,000 after buying an additional 181,701 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in DexCom in the fourth quarter worth about $3,231,000. Goodman Advisory Group LLC purchased a new stake in DexCom in the fourth quarter worth about $1,293,000. Finally, Employees Retirement System of Texas bought a new stake in DexCom during the 4th quarter valued at approximately $37,871,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Performance

Shares of DXCM opened at $84.75 on Friday. 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 stock has a market cap of $31.98 billion, a P/E ratio of 33.50, a P/E/G ratio of 1.39 and a beta of 1.41. The business’s 50 day moving average price is $74.42 and its 200-day moving average price is $69.73. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $87.85.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. Equities research analysts anticipate that DexCom, Inc. will post 2.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the sale, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. The trade was a 6.54% 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. Insiders have sold 102,506 shares of company stock valued at $7,535,898 over the last ninety days. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

DXCM has been the subject of several research reports. Bank of America decreased their target price on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $94.00 price target on shares of DexCom in a research note on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on DexCom from $65.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Barclays reissued an “underweight” rating and set a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

About DexCom

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.