DAVENPORT & Co LLC cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) by 60.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,411 shares of the medical device company’s stock after selling 9,840 shares during the quarter. DAVENPORT & Co LLC’s holdings in DexCom were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the stock. Centaurus Financial Inc. raised its stake in shares of DexCom by 5.5% during the first quarter. Centaurus Financial Inc. now owns 1,236 shares of the medical device company’s stock worth $632,000 after acquiring an additional 64 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in DexCom by 9.8% in the 4th quarter. First Horizon Advisors Inc. now owns 960 shares of the medical device company’s stock worth $109,000 after purchasing an additional 86 shares in the last quarter. Covenant Partners LLC boosted its stake in DexCom by 2.2% in the 1st quarter. Covenant Partners LLC now owns 4,182 shares of the medical device company’s stock worth $486,000 after purchasing an additional 92 shares in the last quarter. Ascent Group LLC lifted its stake in DexCom by 2.1% during the 3rd quarter. Ascent Group LLC now owns 4,778 shares of the medical device company’s stock valued at $577,000 after acquiring an additional 98 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its stake in DexCom by 7.7% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 1,412 shares of the medical device company’s stock valued at $440,000 after acquiring an additional 101 shares during the period. 93.97% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
DXCM has been the subject of several research reports. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BTIG Research upped their price target on DexCom from $134.00 to $150.00 in a research note on Monday, June 26th. Morgan Stanley initiated coverage on DexCom in a research report on Tuesday, May 30th. They set an “equal weight” rating and a $131.00 target price for the company. Citigroup raised their target price on shares of DexCom from $146.00 to $150.00 in a report on Monday, July 10th. Finally, UBS Group raised their target price on shares of DexCom from $142.00 to $150.00 in a report on Friday, April 28th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.60.
DexCom Stock Up 0.3 %
DexCom (NASDAQ:DXCM – Get Free Report) last released its earnings results on Thursday, April 27th. The medical device company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. DexCom had a return on equity of 18.29% and a net margin of 9.68%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $720.52 million. During the same period last year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 1085.0% compared to the same quarter last year. Analysts anticipate that DexCom, Inc. will post 1.07 EPS for the current year.
Insider Transactions at DexCom
In related news, Director Steven Robert Pacelli sold 5,031 shares of DexCom stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $136.00, for a total value of $684,216.00. Following the completion of the sale, the director now directly owns 126,831 shares in the company, valued at $17,249,016. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Steven Robert Pacelli sold 5,031 shares of DexCom stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $136.00, for a total value of $684,216.00. Following the completion of the sale, the director now directly owns 126,831 shares in the company, valued at $17,249,016. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 392 shares of DexCom stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $128.05, for a total value of $50,195.60. Following the completion of the sale, the executive vice president now owns 82,074 shares of the company’s stock, valued at $10,509,575.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,762 shares of company stock worth $6,268,875. 0.41% of the stock is currently owned by insiders.
DexCom Profile
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 for specific and permitted use cases, including non-medical device applications, medical device data analysis, integrated continuous glucose monitoring systems (iCGM) secondary display alarms, active patient monitoring, and treatment decisions; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.
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