Sequoia Financial Advisors LLC Trims Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Posted by Defense World Staff on Jul 13th, 2023

Sequoia Financial Advisors LLC trimmed its position in DexCom, Inc. (NASDAQ:DXCM – Free Report) by 70.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,041 shares of the medical device company’s stock after selling 9,590 shares during the period. Sequoia Financial Advisors LLC’s holdings in DexCom were worth $469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DexCom by 31.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,999 shares of the medical device company’s stock worth $138,643,000 after acquiring an additional 65,516 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in DexCom by 3,596.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,109 shares of the medical device company’s stock worth $567,000 after acquiring an additional 1,079 shares in the last quarter. West Family Investments Inc. bought a new stake in DexCom in the first quarter worth $209,000. Ergoteles LLC boosted its holdings in DexCom by 60.6% in the first quarter. Ergoteles LLC now owns 1,681 shares of the medical device company’s stock worth $860,000 after acquiring an additional 634 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in DexCom by 26.4% in the first quarter. Mackenzie Financial Corp now owns 29,516 shares of the medical device company’s stock worth $15,100,000 after acquiring an additional 6,160 shares in the last quarter. 93.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Paul R. Flynn sold 2,781 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $120.00, for a total value of $333,720.00. Following the completion of the transaction, the executive vice president now directly owns 52,112 shares of the company’s stock, valued at approximately $6,253,440. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Paul R. Flynn sold 2,781 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $120.00, for a total value of $333,720.00. Following the completion of the transaction, the executive vice president now directly owns 52,112 shares of the company’s stock, valued at approximately $6,253,440. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 392 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $128.05, for a total value of $50,195.60. Following the completion of the transaction, the executive vice president now directly owns 82,074 shares of the company’s stock, valued at $10,509,575.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,512 shares of company stock worth $5,918,379. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DXCM has been the topic of a number of research analyst reports. BTIG Research upped their price target on DexCom from $134.00 to $150.00 in a report on Monday, June 26th. Stifel Nicolaus upped their price target on DexCom from $130.00 to $140.00 in a report on Friday, April 28th. Raymond James upped their price target on DexCom from $138.00 to $140.00 in a report on Friday, April 28th. TheStreet downgraded DexCom from a “b-” rating to a “c+” rating in a report on Thursday, May 25th. Finally, StockNews.com assumed coverage on DexCom in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $128.06.

DexCom Price Performance

DXCM opened at $133.67 on Thursday. The business has a fifty day moving average of $123.32 and a 200 day moving average of $116.93. DexCom, Inc. has a 52-week low of $73.93 and a 52-week high of $134.14. The company has a quick ratio of 1.82, a current ratio of 2.02 and a debt-to-equity ratio of 0.54. The stock has a market cap of $51.82 billion, a P/E ratio of 190.96, a PEG ratio of 2.94 and a beta of 1.15.

DexCom (NASDAQ:DXCM – Get Free Report) last posted its quarterly earnings data on Thursday, April 27th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. DexCom had a return on equity of 18.29% and a net margin of 9.68%. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $720.52 million. During the same quarter in the previous year, the business earned $0.08 EPS. DexCom’s revenue was up 1085.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that DexCom, Inc. will post 1.07 EPS for the current year.

About DexCom

(Free Report)

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 for specific and permitted use cases, including non-medical device applications, medical device data analysis, integrated continuous glucose monitoring systems (iCGM) secondary display alarms, active patient monitoring, and treatment decisions; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.