Kornitzer Capital Management Inc. KS Has $3.76 Million Position in DexCom, Inc. $DXCM

Kornitzer Capital Management Inc. KS cut its position in DexCom, Inc. (NASDAQ:DXCM) by 27.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 59,801 shares of the medical device company’s stock after selling 22,660 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in DexCom were worth $3,756,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gradient Investments LLC boosted its position in DexCom by 13.8% during the 4th quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock worth $22,035,000 after buying an additional 40,343 shares during the period. Nordea Investment Management AB increased its position in DexCom by 118.6% in the 4th quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company’s stock valued at $16,988,000 after acquiring an additional 137,986 shares during the period. Banque Pictet & Cie SA raised its stake in shares of DexCom by 58.2% during the fourth quarter. Banque Pictet & Cie SA now owns 109,823 shares of the medical device company’s stock valued at $7,289,000 after acquiring an additional 40,411 shares during the last quarter. Holocene Advisors LP bought a new position in shares of DexCom during the third quarter valued at $163,964,000. Finally, Aberdeen Group plc lifted its holdings in shares of DexCom by 9.0% during the fourth quarter. Aberdeen Group plc now owns 530,363 shares of the medical device company’s stock worth $35,200,000 after purchasing an additional 43,990 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $88.00 price objective (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. UBS Group set a $95.00 target price on DexCom in a report on Wednesday, June 10th. Benchmark reiterated a “buy” rating on shares of DexCom in a research report on Tuesday, June 23rd. Finally, Sanford C. Bernstein set a $77.00 price target on DexCom in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average price target of $84.88.

DexCom Trading Up 2.7%

Shares of NASDAQ DXCM traded up $1.94 during midday trading on Friday, reaching $74.96. The stock had a trading volume of 3,856,779 shares, compared to its average volume of 4,451,275. The firm has a market cap of $28.92 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The company’s 50 day moving average price is $69.62 and its 200 day moving average price is $68.44.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction 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. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value of $358,576.00. Following the sale, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. The trade was a 4.67% 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. Insiders have sold 73,450 shares of company stock valued at $5,270,409 over the last quarter. Company insiders own 0.28% of the company’s stock.

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.