Parallel Advisors LLC Lowers Holdings in DexCom, Inc. $DXCM

Parallel Advisors LLC cut its holdings in DexCom, Inc. (NASDAQ:DXCM) by 18.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,059 shares of the medical device company’s stock after selling 458 shares during the period. Parallel Advisors LLC’s holdings in DexCom were worth $180,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after acquiring an additional 264 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in DexCom in the 1st quarter worth approximately $27,000. Anderson Financial Strategies LLC bought a new stake in DexCom in the 1st quarter worth approximately $37,000. Heck Capital Advisors LLC bought a new stake in DexCom in the 4th quarter worth approximately $38,000. Finally, Alpine Bank Wealth Management bought a new stake in DexCom in the 1st quarter worth approximately $40,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Trading Up 3.1%

Shares of NASDAQ DXCM opened at $69.51 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The stock has a market capitalization of $27.26 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. DexCom, Inc. has a 1-year low of $57.52 and a 1-year high of $93.25. The business has a fifty day moving average price of $79.59 and a 200 day moving average price of $78.19.

DexCom (NASDAQ:DXCM) last announced its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $0.43 EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. Equities research analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. William Blair raised DexCom to a “strong-buy” rating in a research note on Thursday, July 31st. Wall Street Zen downgraded DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 10th. UBS Group lifted their price objective on DexCom from $105.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price objective on DexCom from $82.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Mizuho boosted their target price on DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.89.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 2,750 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total transaction of $222,915.00. Following the transaction, the director directly owned 51,121 shares of the company’s stock, valued at $4,143,868.26. This represents a 5.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kyle Malady sold 667 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following the transaction, the director directly owned 22,667 shares in the company, valued at $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,315 shares of company stock valued at $689,431. 0.32% of the stock is currently owned by corporate insiders.

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.