PNC Financial Services Group Inc. Trims Stake in DexCom, Inc. $DXCM

PNC Financial Services Group Inc. reduced its holdings in DexCom, Inc. (NASDAQ:DXCM) by 19.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,491 shares of the medical device company’s stock after selling 8,946 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DexCom were worth $2,488,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Trust Co. of Vermont boosted its holdings in shares of DexCom by 14.8% during the 4th quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company’s stock valued at $74,000 after purchasing an additional 145 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after buying an additional 147 shares during the last quarter. IFP Advisors Inc raised its position in shares of DexCom by 24.7% during the 3rd quarter. IFP Advisors Inc now owns 900 shares of the medical device company’s stock valued at $61,000 after buying an additional 178 shares in the last quarter. Personal CFO Solutions LLC raised its position in shares of DexCom by 5.0% during the 3rd quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company’s stock valued at $260,000 after buying an additional 185 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after acquiring an additional 196 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DXCM shares. Barclays reiterated an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Wells Fargo & Company lowered their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. TD Cowen dropped their target price on DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 1st. Raymond James Financial set a $81.00 target price on DexCom in a research report on Friday, May 1st. Finally, Robert W. Baird set a $80.00 price target on DexCom in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,759 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares of the company’s stock, valued at approximately $27,538,704. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $59.91, for a total value of $101,847.00. Following the completion of the transaction, the executive vice president directly owned 109,504 shares in the company, valued at $6,560,384.64. This trade represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 32,871 shares of company stock valued at $2,306,638. Insiders own 0.28% of the company’s stock.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $72.01 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. The company has a market capitalization of $27.79 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.19 and a beta of 1.40. The firm’s 50-day moving average is $63.87 and its 200 day moving average is $66.18.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts predict that DexCom, Inc. will post 2.57 EPS for the current year.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.