Principal Financial Group Inc. Cuts Position in DexCom, Inc. (NASDAQ:DXCM)

Principal Financial Group Inc. lessened its position in DexCom, Inc. (NASDAQ:DXCM) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 774,582 shares of the medical device company’s stock after selling 24,217 shares during the quarter. Principal Financial Group Inc. owned approximately 0.19% of DexCom worth $87,822,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DXCM. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of DexCom in the second quarter valued at $25,000. DSM Capital Partners LLC acquired a new stake in DexCom in the 4th quarter valued at about $28,000. Crewe Advisors LLC purchased a new position in shares of DexCom in the 1st quarter valued at about $29,000. Riverview Trust Co acquired a new position in shares of DexCom during the first quarter worth about $32,000. Finally, Smithfield Trust Co increased its stake in shares of DexCom by 103.1% during the fourth quarter. Smithfield Trust Co now owns 325 shares of the medical device company’s stock worth $40,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Trading Down 0.4 %

NASDAQ DXCM opened at $69.34 on Friday. The firm’s fifty day moving average is $90.92 and its two-hundred day moving average is $114.58. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82. The firm has a market cap of $27.58 billion, a PE ratio of 44.74, a P/E/G ratio of 2.18 and a beta of 1.16.

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 the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that DexCom, Inc. will post 1.69 earnings per share for the current year.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 427 shares of DexCom stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total value of $49,126.35. Following the transaction, the executive vice president now directly owns 75,877 shares in the company, valued at approximately $8,729,648.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other DexCom news, EVP Sadie Stern sold 427 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the completion of the transaction, the executive vice president now owns 75,877 shares in the company, valued at approximately $8,729,648.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jereme M. Sylvain sold 745 shares of DexCom stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $85,712.25. Following the completion of the sale, the chief financial officer now directly owns 84,948 shares in the company, valued at approximately $9,773,267.40. The disclosure for this sale can be found here. Insiders sold 3,483 shares of company stock worth $369,052 over the last 90 days. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DXCM shares. Oppenheimer decreased their price target on shares of DexCom from $150.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird increased their target price on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, August 5th. BTIG Research decreased their price target on DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research report on Monday, August 26th. Finally, Royal Bank of Canada cut their target price on DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Seven 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

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.