Elevation Point Wealth Partners LLC Sells 1,257 Shares of DexCom, Inc. (NASDAQ:DXCM)

Elevation Point Wealth Partners LLC reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,915 shares of the medical device company’s stock after selling 1,257 shares during the period. Elevation Point Wealth Partners LLC’s holdings in DexCom were worth $541,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Norges Bank purchased a new position in DexCom during the fourth quarter worth about $385,367,000. Congress Asset Management Co. lifted its holdings in DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after acquiring an additional 1,332,522 shares during the period. Fisher Funds Management LTD bought a new stake in DexCom during the fourth quarter worth $96,507,000. Woodline Partners LP bought a new stake in DexCom during the fourth quarter worth $63,338,000. Finally, Northern Trust Corp lifted its holdings in DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock worth $322,454,000 after acquiring an additional 753,857 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 6,184 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president now directly owns 109,621 shares of the company’s stock, valued at $9,329,843.31. The trade was a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Jon Brown sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the transaction, the executive vice president now directly owns 95,602 shares in the company, valued at $8,057,336.56. This trade represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

DexCom Stock Performance

NASDAQ DXCM opened at $81.99 on Monday. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $117.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The stock has a market capitalization of $32.15 billion, a PE ratio of 57.34, a P/E/G ratio of 2.30 and a beta of 1.46. The company’s 50 day simple moving average is $78.50 and its two-hundred day simple moving average is $79.33.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. DexCom had a return on equity of 30.14% and a net margin of 14.29%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. Analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DXCM shares. Wall Street Zen upgraded DexCom from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Wells Fargo & Company reiterated an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Citigroup reiterated a “buy” rating and set a $102.00 target price (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Piper Sandler lowered their target price on DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Robert W. Baird lowered their target price on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.32.

About DexCom

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.