DexCom, Inc. $DXCM Position Lowered by Gradient Investments LLC

Gradient Investments LLC reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 36.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,283 shares of the medical device company’s stock after selling 136,259 shares during the period. Gradient Investments LLC’s holdings in DexCom were worth $20,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in shares of DexCom in the second quarter worth $782,000. Aurora Investment Counsel acquired a new stake in DexCom in the 2nd quarter valued at $2,340,000. E Fund Management Co. Ltd. acquired a new stake in DexCom in the 2nd quarter valued at $1,273,000. Silvant Capital Management LLC purchased a new position in DexCom in the second quarter valued at about $5,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in DexCom in the second quarter valued at about $89,940,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Down 0.5%

Shares of NASDAQ:DXCM traded down $0.41 during trading on Thursday, hitting $83.89. The company’s stock had a trading volume of 998,767 shares, compared to its average volume of 5,011,308. The company has a market capitalization of $31.66 billion, a PE ratio of 33.20, a PEG ratio of 1.40 and a beta of 1.48. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week 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 stock’s 50-day moving average price is $87.33 and its two-hundred day moving average price is $74.97.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $0.48 EPS. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that DexCom, Inc. will post 2.64 EPS for the current year.

Analyst Ratings Changes

DXCM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on DexCom in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 target price for the company. Raymond James Financial reissued a “strong-buy” rating and set a $94.00 price target on shares of DexCom in a research report on Friday, July 31st. Weiss Ratings upgraded DexCom from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. UBS Group set a $96.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, TD Cowen reiterated a “buy” rating and set a $95.00 price objective on shares of DexCom in a research note on Friday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $91.96.

Insiders Place Their Bets

In related news, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total value of $142,868.00. Following the sale, the executive vice president directly owned 99,885 shares of the company’s stock, valued at $8,394,335.40. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the transaction, the director owned 29,293 shares in the company, valued at $2,461,783.72. This trade represents a 18.25% 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. In the last quarter, insiders have sold 49,313 shares of company stock valued at $3,945,875. 0.28% of the stock is owned by insiders.

DexCom Profile

DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.