Baird Financial Group Inc. Cuts Stake in DexCom, Inc. $DXCM

Baird Financial Group Inc. lessened its holdings in DexCom, Inc. (NASDAQ:DXCM) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 637,765 shares of the medical device company’s stock after selling 49,243 shares during the quarter. Baird Financial Group Inc.’s holdings in DexCom were worth $55,671,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DXCM. Nuveen LLC purchased a new stake in DexCom during the first quarter valued at about $554,893,000. Norges Bank purchased a new stake in DexCom during the 2nd quarter valued at about $453,279,000. Groupama Asset Managment boosted its holdings in DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after acquiring an additional 4,011,438 shares during the period. Massachusetts Financial Services Co. MA grew its position in DexCom by 106.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after acquiring an additional 3,410,858 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DexCom by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock worth $691,336,000 after purchasing an additional 1,868,241 shares during the period. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

DXCM has been the subject of several recent research reports. Piper Sandler set a $75.00 price objective on DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. Wells Fargo & Company set a $93.00 price target on shares of DexCom and gave the company an “overweight” rating in a report on Friday, October 31st. UBS Group dropped their price target on shares of DexCom from $106.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of DexCom in a report on Monday. Finally, The Goldman Sachs Group decreased their price objective on shares of DexCom from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $87.27.

DexCom Trading Up 0.6%

NASDAQ:DXCM opened at $65.25 on Friday. The company has a 50-day moving average price of $64.00 and a 200-day moving average price of $75.31. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 36.25, a P/E/G ratio of 1.39 and a beta of 1.51. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $93.25.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. DexCom had a net margin of 15.96% and a return on equity of 30.65%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. DexCom’s revenue was up 21.6% on a year-over-year basis. Equities analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Transactions at DexCom

In other news, COO Jacob Steven Leach bought 18,200 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $55.04 per share, with a total value of $1,001,728.00. Following the transaction, the chief operating officer owned 331,697 shares of the company’s stock, valued at approximately $18,256,602.88. The trade was a 5.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $58.07, for a total value of $58,766.84. Following the sale, the director owned 27,031 shares in the company, valued at $1,569,690.17. This represents a 3.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 7,866 shares of company stock valued at $448,177. Corporate insiders own 0.32% of the company’s stock.

DexCom Company 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.