Rafferty Asset Management LLC Cuts Stake in DexCom, Inc. (NASDAQ:DXCM)

Rafferty Asset Management LLC reduced its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,859 shares of the medical device company’s stock after selling 2,427 shares during the period. Rafferty Asset Management LLC owned 0.05% of DexCom worth $15,932,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Private Trust Co. NA lifted its holdings in shares of DexCom by 266.3% during the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock worth $26,000 after acquiring an additional 245 shares during the period. Optiver Holding B.V. acquired a new stake in DexCom during the 4th quarter worth approximately $33,000. TD Private Client Wealth LLC increased its position in DexCom by 62.8% during the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after purchasing an additional 167 shares in the last quarter. Larson Financial Group LLC increased its position in DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after purchasing an additional 137 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in DexCom during the 4th quarter worth approximately $38,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 13,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $914,940.00. Following the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at $7,432,268.76. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin R. Sayer sold 32,498 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $2,287,209.24. Following the transaction, the chief executive officer now owns 372,029 shares in the company, valued at $26,183,401.02. This trade represents a 8.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,926 shares of company stock valued at $4,734,384. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DXCM has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their target price on shares of DexCom from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Robert W. Baird dropped their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Citigroup increased their target price on shares of DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler dropped their target price on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.11.

DexCom Stock Down 1.0%

DXCM stock opened at $85.67 on Friday. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $132.26. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $33.59 billion, a P/E ratio of 59.91, a PEG ratio of 2.30 and a beta of 1.43. The firm has a 50 day simple moving average of $71.70 and a 200-day simple moving average of $77.51.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

About DexCom

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.