Lyell Wealth Management LP trimmed its position in DexCom, Inc. (NASDAQ:DXCM – Free Report) by 46.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,120 shares of the medical device company’s stock after selling 18,027 shares during the period. Lyell Wealth Management LP’s holdings in DexCom were worth $1,402,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of DXCM. Norges Bank acquired a new position in DexCom in the fourth quarter worth about $483,356,000. Holocene Advisors LP acquired a new position in DexCom in the third quarter worth about $163,964,000. CIBC Private Wealth Group LLC grew its stake in DexCom by 374.3% in the third quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock worth $195,666,000 after purchasing an additional 2,294,709 shares in the last quarter. Vanguard Group Inc. grew its stake in DexCom by 2.3% in the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares in the last quarter. Finally, Intermede Investment Partners Ltd acquired a new position in DexCom in the fourth quarter worth about $60,351,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
DXCM has been the subject of a number of research reports. William Blair upgraded DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Robert W. Baird set a $80.00 target price on DexCom in a research note on Friday, May 1st. UBS Group set a $95.00 target price on DexCom in a research note on Wednesday. Mizuho set a $85.00 target price on DexCom and gave the company an “outperform” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of DexCom in a research note on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given 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.com, DexCom presently has an average rating of “Moderate Buy” and a consensus price target of $84.29.
Insider Transactions at DexCom
In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider owned 382,482 shares of the company’s stock, valued at $27,538,704. This trade represents a 6.54% 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. Over the last ninety days, insiders have sold 42,694 shares of company stock valued at $3,029,267. 0.28% of the stock is currently owned by company insiders.
DexCom Stock Performance
DXCM opened at $75.25 on Friday. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The business has a 50 day moving average price of $65.87 and a two-hundred day moving average price of $67.50.
DexCom (NASDAQ:DXCM – Get Free Report) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. Research analysts predict that DexCom, Inc. will post 2.58 EPS for the current fiscal year.
DexCom Profile
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.
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