Sterling Capital Management LLC decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,267 shares of the medical device company’s stock after selling 7,535 shares during the quarter. Sterling Capital Management LLC’s holdings in DexCom were worth $6,667,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in shares of DexCom during the 2nd quarter worth about $782,000. Aurora Investment Counsel acquired a new stake in shares of DexCom during the 2nd quarter valued at about $2,340,000. E Fund Management Co. Ltd. acquired a new stake in shares of DexCom during the 2nd quarter valued at about $1,273,000. Silvant Capital Management LLC purchased a new position in shares of DexCom in the 2nd quarter valued at about $5,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of DexCom in the 2nd quarter valued at about $89,940,000. 97.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently weighed in on DXCM shares. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Truist Financial set a $102.00 price target on DexCom and gave the stock a “buy” rating in a research report on Friday, September 18th. BTIG Research raised their price objective on DexCom from $90.00 to $96.00 and gave the company a “buy” rating in a report on Monday, October 12th. Weiss Ratings upgraded DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. Finally, Barclays upgraded DexCom to a “strong-buy” rating in a research report on Wednesday, October 7th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $92.43.
Read Our Latest Analysis on DXCM
Insider Buying and Selling at DexCom
In other news, EVP Michael Brown sold 1,700 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $85.48, for a total value of $145,316.00. Following the transaction, the executive vice president directly owned 98,185 shares of the company’s stock, valued at approximately $8,392,853.80. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $83.27, for a total transaction of $302,936.26. Following the transaction, the executive vice president owned 146,828 shares in the company, valued at $12,226,367.56. The trade was a 2.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 24,257 shares of company stock valued at $2,049,173. 0.28% of the stock is owned by company insiders.
DexCom Stock Down 0.5%
NASDAQ DXCM opened at $77.94 on Friday. The business has a fifty day moving average price of $86.79 and a 200 day moving average price of $76.54. DexCom, Inc. has a one year low of $54.11 and a one year high of $92.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The company has a market cap of $29.41 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.31 and a beta of 1.48.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current fiscal year.
DexCom Company Profile
DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.
The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.
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