Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stock Position in DexCom, Inc. $DXCM

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 99.4% during the fourth quarter, HoldingsChannel reports. The firm owned 90,720 shares of the medical device company’s stock after selling 16,023,451 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in DexCom were worth $6,021,000 at the end of the most recent reporting period.

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

DexCom Stock Down 1.9%

Shares of NASDAQ DXCM opened at $73.45 on Wednesday. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The firm’s 50 day simple moving average is $64.32 and its two-hundred day simple moving average is $66.64. The stock has a market capitalization of $28.34 billion, a P/E ratio of 31.39, a PEG ratio of 1.24 and a beta of 1.45.

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

Insider Buying and Selling at DexCom

In other DexCom news, 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 transaction, the insider directly owned 382,482 shares in the company, valued at $27,538,704. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the completion of the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. This represents a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,871 shares of company stock worth $2,306,638 over the last ninety days. Insiders own 0.28% of the company’s stock.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of recent analyst reports. Evercore raised shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Tuesday, March 24th. Bank of America reduced 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, May 18th. Wells Fargo & Company reduced their price target on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Piper Sandler reiterated an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the company a “buy” rating in a research report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.42.

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.