Principal Financial Group Inc. Increases Stock Holdings in DexCom, Inc. $DXCM

Principal Financial Group Inc. grew its stake in DexCom, Inc. (NASDAQ:DXCM) by 31.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 755,521 shares of the medical device company’s stock after purchasing an additional 179,004 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of DexCom worth $47,447,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DXCM. One Wealth Map LLC grew its position in DexCom by 5.6% in the 1st quarter. One Wealth Map LLC now owns 4,900 shares of the medical device company’s stock valued at $301,000 after buying an additional 261 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in shares of DexCom by 26.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 46,041 shares of the medical device company’s stock worth $2,891,000 after acquiring an additional 9,758 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of DexCom by 30.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 311,905 shares of the medical device company’s stock worth $19,588,000 after acquiring an additional 72,700 shares during the period. Procyon Advisors LLC acquired a new stake in shares of DexCom in the 1st quarter worth $242,000. Finally, Fifth Third Bancorp boosted its holdings in shares of DexCom by 206.0% in the first quarter. Fifth Third Bancorp now owns 75,907 shares of the medical device company’s stock valued at $4,767,000 after acquiring an additional 51,097 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

NASDAQ:DXCM opened at $76.65 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The stock has a market cap of $29.58 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The firm’s fifty day simple moving average is $71.16 and its 200-day simple moving average is $68.73.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 posted $0.32 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. Analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DXCM. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the stock a “buy” rating in a research note on Monday, May 18th. William Blair upgraded shares of DexCom to a “strong-buy” rating in a research report on Friday, May 15th. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. TD Cowen reiterated a “buy” rating and set a $95.00 target price (up from $75.00) on shares of DexCom in a research report on Wednesday, June 10th. Finally, Truist Financial increased their target price on DexCom from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average target price of $85.36.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the sale, the director owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,750 shares of company stock valued at $5,163,241 in the last ninety days. Company 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.