Principal Financial Group Inc. Decreases Stake in DexCom, Inc. (NASDAQ:DXCM)

Principal Financial Group Inc. lessened its holdings in DexCom, Inc. (NASDAQ:DXCM) by 12.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 679,167 shares of the medical device company’s stock after selling 95,415 shares during the quarter. Principal Financial Group Inc.’s holdings in DexCom were worth $45,531,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXCM. Migdal Insurance & Financial Holdings Ltd. bought a new stake in DexCom during the second quarter worth $25,000. Sachetta LLC raised its holdings in shares of DexCom by 255.2% in the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after purchasing an additional 171 shares during the period. Riverview Trust Co lifted its position in shares of DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after buying an additional 232 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in DexCom during the third quarter valued at about $57,000. Finally, Covestor Ltd boosted its holdings in DexCom by 53.7% in the 3rd quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock worth $64,000 after buying an additional 335 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

NASDAQ DXCM opened at $80.04 on Monday. The company has a 50-day simple moving average of $74.53 and a two-hundred day simple moving average of $82.62. DexCom, Inc. has a 12-month low of $62.34 and a 12-month high of $142.00. The firm has a market cap of $31.26 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.46 and a beta of 1.12. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the transaction, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at $5,320,178.16. The trade was a 5.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DXCM. JPMorgan Chase & Co. raised their price target on DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Citigroup lifted their target price on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Oppenheimer lowered their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Leerink Partners lowered their target price on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

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.