First Trust Advisors LP Has $14.48 Million Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Posted by on Mar 11th, 2023

First Trust Advisors LP reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 53.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,832 shares of the medical device company’s stock after selling 204,502 shares during the quarter. First Trust Advisors LP’s holdings in DexCom were worth $14,484,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DXCM. Sands Capital Management LLC grew its stake in shares of DexCom by 327.3% during the 2nd quarter. Sands Capital Management LLC now owns 17,902,213 shares of the medical device company’s stock worth $1,334,252,000 after acquiring an additional 13,712,968 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of DexCom by 333.0% in the second quarter. Clearbridge Investments LLC now owns 5,707,510 shares of the medical device company’s stock valued at $425,381,000 after buying an additional 4,389,431 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of DexCom by 319.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,093,538 shares of the medical device company’s stock valued at $305,091,000 after buying an additional 3,118,722 shares in the last quarter. Northern Trust Corp grew its stake in shares of DexCom by 280.1% in the second quarter. Northern Trust Corp now owns 3,877,274 shares of the medical device company’s stock valued at $288,974,000 after buying an additional 2,857,138 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of DexCom by 184.8% in the second quarter. Brown Advisory Inc. now owns 3,769,072 shares of the medical device company’s stock valued at $280,910,000 after buying an additional 2,445,582 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DXCM shares. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a research note on Friday, February 10th. Wolfe Research started coverage on shares of DexCom in a research note on Thursday, January 26th. They issued an “outperform” rating and a $121.00 target price for the company. Barclays raised their target price on shares of DexCom from $103.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 13th. Cowen lifted their price objective on shares of DexCom from $114.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Finally, Stifel Nicolaus lifted their price objective on shares of DexCom from $120.00 to $130.00 in a research report on Tuesday, December 20th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

DexCom Stock Down 3.8 %

DXCM stock opened at $107.77 on Friday. The company has a market cap of $41.64 billion, a PE ratio of 132.64, a price-to-earnings-growth ratio of 2.74 and a beta of 1.10. The business has a 50-day simple moving average of $111.13 and a 200 day simple moving average of $105.37. DexCom, Inc. has a 52 week low of $66.89 and a 52 week high of $134.76. The company has a quick ratio of 1.83, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

DexCom (NASDAQ:DXCM – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The medical device company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $815.20 million during the quarter, compared to the consensus estimate of $814.52 million. DexCom had a return on equity of 16.66% and a net margin of 11.73%. DexCom’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. Sell-side analysts anticipate that DexCom, Inc. will post 1.06 EPS for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Jacob Steven Leach sold 18,144 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $114.74, for a total value of $2,081,842.56. Following the completion of the transaction, the executive vice president now owns 281,089 shares of the company’s stock, valued at $32,252,151.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other DexCom news, CFO Jereme M. Sylvain sold 2,400 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $114.54, for a total transaction of $274,896.00. Following the completion of the transaction, the chief financial officer now owns 64,837 shares of the company’s stock, valued at $7,426,429.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jacob Steven Leach sold 18,144 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $114.74, for a total value of $2,081,842.56. Following the sale, the executive vice president now owns 281,089 shares in the company, valued at $32,252,151.86. The disclosure for this sale can be found here. Insiders sold a total of 165,134 shares of company stock valued at $17,839,912 over the last quarter. 0.41% of the stock is owned by corporate insiders.

DexCom Company Profile

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DexCom, Inc is a medical device manufacturing company, which engages in the design, development and commercialization of glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G6 CGM System, DexCom G6 CGM System for Medicare, Software and Mobile apps. The company was founded by John F.

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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