GRIMES & Co WEALTH MANAGEMENT LLC Sells 17,554 Shares of DexCom, Inc. $DXCM

GRIMES & Co WEALTH MANAGEMENT LLC reduced its holdings in DexCom, Inc. (NASDAQ:DXCM) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,500 shares of the medical device company’s stock after selling 17,554 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in DexCom were worth $7,839,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Andra AP fonden acquired a new stake in shares of DexCom during the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in DexCom during the second quarter worth $26,000. SJS Investment Consulting Inc. grew its holdings in DexCom by 4,800.0% in the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after purchasing an additional 384 shares during the period. Financial Consulate Inc. acquired a new position in shares of DexCom during the third quarter valued at about $29,000. Finally, Sound Income Strategies LLC boosted its position in shares of DexCom by 83.8% during the 3rd quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock worth $43,000 after purchasing an additional 285 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Performance

DXCM stock opened at $70.98 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.56 and a debt-to-equity ratio of 0.45. The firm has a market cap of $27.68 billion, a PE ratio of 39.43, a P/E/G ratio of 1.21 and a beta of 1.48. The business has a 50 day moving average of $64.13 and a 200-day moving average of $71.91. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $93.25.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. DexCom had a return on equity of 30.65% and a net margin of 15.96%.The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other news, Director Richard Alexander Collins sold 3,948 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $55.17, for a total transaction of $217,811.16. Following the completion of the transaction, the director directly owned 37,994 shares of the company’s stock, valued at $2,096,128.98. This represents a 9.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $58.07, for a total transaction of $58,766.84. Following the sale, the director owned 27,031 shares of the company’s stock, valued at approximately $1,569,690.17. The trade was a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 7,866 shares of company stock worth $448,177. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on DXCM shares. Robert W. Baird set a $82.00 target price on DexCom in a research report on Friday, October 31st. BTIG Research decreased their price objective on DexCom from $109.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 31st. Evercore ISI assumed coverage on DexCom in a report on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 target price on the stock. Barclays lowered shares of DexCom from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $80.00 to $71.00 in a research note on Monday. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of DexCom in a research note on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.30.

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.