State of Michigan Retirement System Trims Position in DexCom, Inc. (NASDAQ:DXCM)

State of Michigan Retirement System cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 0.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,600 shares of the medical device company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in DexCom were worth $14,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of DXCM. Allspring Global Investments Holdings LLC increased its holdings in shares of DexCom by 0.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,288,758 shares of the medical device company’s stock valued at $178,751,000 after purchasing an additional 4,193 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of DexCom by 21.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,413,958 shares of the medical device company’s stock worth $196,117,000 after acquiring an additional 248,111 shares in the last quarter. Congress Wealth Management LLC DE grew its position in shares of DexCom by 0.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 168,657 shares of the medical device company’s stock valued at $23,393,000 after acquiring an additional 952 shares during the period. Trilogy Capital Inc. acquired a new position in DexCom in the 1st quarter worth about $470,000. Finally, Toth Financial Advisory Corp boosted its position in DexCom by 870.9% during the first quarter. Toth Financial Advisory Corp now owns 6,583 shares of the medical device company’s stock worth $913,000 after purchasing an additional 5,905 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Buying and Selling

In other DexCom news, CEO Kevin R. Sayer sold 49,633 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $138.30, for a total value of $6,864,243.90. Following the completion of the sale, the chief executive officer now owns 283,893 shares of the company’s stock, valued at $39,262,401.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Kevin R. Sayer sold 49,633 shares of DexCom stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $138.30, for a total transaction of $6,864,243.90. Following the completion of the sale, the chief executive officer now directly owns 283,893 shares in the company, valued at approximately $39,262,401.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael Jon Brown sold 629 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total value of $79,411.25. Following the completion of the sale, the executive vice president now owns 68,212 shares in the company, valued at approximately $8,611,765. The disclosure for this sale can be found here. Insiders have sold 55,735 shares of company stock valued at $7,619,347 over the last quarter. Company insiders own 0.30% of the company’s stock.

DexCom Stock Up 0.3 %

DXCM opened at $112.49 on Wednesday. The business has a 50 day moving average price of $122.32 and a two-hundred day moving average price of $125.58. DexCom, Inc. has a 52 week low of $74.75 and a 52 week high of $142.00. The company has a market cap of $44.74 billion, a PE ratio of 72.57, a P/E/G ratio of 2.77 and a beta of 1.16. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The company had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $911.20 million. As a group, research analysts anticipate that DexCom, Inc. will post 1.78 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on DXCM shares. UBS Group upped their target price on DexCom from $153.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group lifted their target price on shares of DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Redburn Atlantic assumed coverage on shares of DexCom in a research report on Thursday, May 30th. They set a “neutral” rating and a $130.00 price target for the company. Raymond James lifted their price objective on DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. Finally, Citigroup raised their target price on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.33.

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.