Summit Trail Advisors LLC Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Summit Trail Advisors LLC decreased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,002 shares of the medical device company’s stock after selling 186 shares during the period. Summit Trail Advisors LLC’s holdings in DexCom were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DXCM. Pacer Advisors Inc. increased its stake in DexCom by 10.9% in the 2nd quarter. Pacer Advisors Inc. now owns 49,319 shares of the medical device company’s stock worth $5,592,000 after buying an additional 4,831 shares during the period. King Luther Capital Management Corp increased its position in shares of DexCom by 7.6% during the second quarter. King Luther Capital Management Corp now owns 156,880 shares of the medical device company’s stock worth $17,787,000 after acquiring an additional 11,013 shares during the period. Waters Parkerson & CO. LLC raised its stake in shares of DexCom by 4.2% during the second quarter. Waters Parkerson & CO. LLC now owns 272,641 shares of the medical device company’s stock valued at $30,912,000 after acquiring an additional 10,892 shares in the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of DexCom in the second quarter valued at approximately $342,000. Finally, Canada Pension Plan Investment Board grew its stake in DexCom by 189.1% in the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on DXCM. Wells Fargo & Company decreased their target price on DexCom from $145.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of DexCom in a research note on Monday, August 26th. Morgan Stanley cut their target price on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Robert W. Baird boosted their price target on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.25.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $114.29, for a total transaction of $75,317.11. Following the completion of the sale, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Jon Brown sold 659 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $114.29, for a total value of $75,317.11. Following the sale, the executive vice president now directly owns 66,901 shares in the company, valued at $7,646,115.29. The disclosure for this sale can be found here. Insiders have sold a total of 2,483 shares of company stock valued at $201,708 in the last ninety days. Company insiders own 0.30% of the company’s stock.

DexCom Stock Performance

DXCM opened at $69.70 on Tuesday. The company has a market cap of $27.72 billion, a P/E ratio of 44.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $77.32 and its 200-day moving average price is $108.93. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $0.34 EPS. DexCom’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that DexCom, Inc. will post 1.69 EPS 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.