Prelude Capital Management LLC Sells 9,787 Shares of DexCom, Inc. (NASDAQ:DXCM)

Posted by Defense World Staff on Sep 18th, 2023

Prelude Capital Management LLC decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) by 76.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,085 shares of the medical device company’s stock after selling 9,787 shares during the quarter. Prelude Capital Management LLC’s holdings in DexCom were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DXCM. Resources Investment Advisors LLC. bought a new stake in DexCom in the 1st quarter worth about $287,000. Financial Counselors Inc. increased its position in shares of DexCom by 2.3% during the first quarter. Financial Counselors Inc. now owns 27,189 shares of the medical device company’s stock valued at $3,159,000 after acquiring an additional 615 shares during the last quarter. Spouting Rock Asset Management LLC bought a new stake in DexCom during the first quarter worth $540,000. First Hawaiian Bank grew its stake in DexCom by 0.9% in the 1st quarter. First Hawaiian Bank now owns 15,923 shares of the medical device company’s stock valued at $1,850,000 after purchasing an additional 149 shares during the period. Finally, CX Institutional bought a new stake in shares of DexCom during the 1st quarter worth $251,000. 93.88% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Performance

Shares of DXCM stock opened at $96.35 on Monday. The company has a market capitalization of $37.37 billion, a P/E ratio of 112.03, a PEG ratio of 1.99 and a beta of 1.12. DexCom, Inc. has a fifty-two week low of $78.94 and a fifty-two week high of $139.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 2.21 and a current ratio of 2.42. The stock has a 50 day moving average price of $115.60 and a two-hundred day moving average price of $118.29.

DexCom (NASDAQ:DXCM – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The company had revenue of $871.30 million during the quarter, compared to analyst estimates of $841.16 million. DexCom had a net margin of 11.18% and a return on equity of 22.01%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. Analysts expect that DexCom, Inc. will post 1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley initiated coverage on shares of DexCom in a report on Tuesday, May 30th. They set an “equal weight” rating and a $131.00 price objective for the company. TheStreet cut shares of DexCom from a “b-” rating to a “c+” rating in a report on Wednesday, September 6th. StockNews.com started coverage on DexCom in a report on Thursday, August 17th. They set a “hold” rating for the company. Raymond James lowered their target price on DexCom from $154.00 to $131.00 and set a “strong-buy” rating on the stock in a research note on Friday. Finally, Barclays increased their price target on DexCom from $115.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $136.31.

Read Our Latest Research Report on DexCom

Insider Transactions at DexCom

In other DexCom news, Director Bridgette P. Heller sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $106.56, for a total transaction of $63,936.00. Following the completion of the transaction, the director now owns 23,731 shares of the company’s stock, valued at approximately $2,528,775.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Bridgette P. Heller sold 600 shares of DexCom stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $106.56, for a total value of $63,936.00. Following the sale, the director now owns 23,731 shares in the company, valued at $2,528,775.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven Robert Pacelli sold 5,031 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $136.00, for a total transaction of $684,216.00. Following the completion of the transaction, the director now owns 126,831 shares of the company’s stock, valued at $17,249,016. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,550 shares of company stock worth $1,189,620. Company insiders own 0.41% of the company’s stock.

DexCom Profile

(Free Report)

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.