PNC Financial Services Group Inc. Sells 8,946 Shares of DexCom, Inc. $DXCM

PNC Financial Services Group Inc. cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in DexCom by 374.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock worth $195,666,000 after purchasing an additional 2,294,709 shares during the period. Legal & General Group Plc raised its position in DexCom by 4.7% during the 3rd quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company’s stock valued at $177,356,000 after purchasing an additional 117,493 shares in the last quarter. Holocene Advisors LP bought a new stake in DexCom during the 3rd quarter valued at $163,964,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of DexCom by 52.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,444,566 shares of the medical device company’s stock worth $97,187,000 after buying an additional 497,039 shares during the period. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Down 0.1%

Shares of NASDAQ DXCM opened at $72.01 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a market capitalization of $27.79 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The business has a fifty day moving average price of $63.87 and a 200 day moving average price of $66.18.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities research analysts expect that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DXCM. BTIG Research restated a “buy” rating and set a $85.00 price target on shares of DexCom in a research note on Monday, March 9th. Weiss Ratings raised shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. William Blair raised shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. TD Cowen reduced their price target on shares of DexCom from $84.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Citigroup reaffirmed a “buy” rating and issued a $79.00 price target (down from $84.00) on shares of DexCom in a research report on Monday, May 4th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $82.21.

Insider Activity

In other news, insider Kevin R. Sayer sold 26,759 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the sale, the insider directly owned 382,482 shares in the company, valued at approximately $27,538,704. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $59.91, for a total transaction of $101,847.00. Following the transaction, the executive vice president owned 109,504 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 32,871 shares of company stock worth $2,306,638. Corporate insiders own 0.28% of the company’s stock.

About DexCom

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.