DexCom, Inc. (NASDAQ:DXCM) Position Cut by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its stake in DexCom, Inc. (NASDAQ:DXCM) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 204,859 shares of the medical device company’s stock after selling 2,427 shares during the quarter. Rafferty Asset Management LLC’s holdings in DexCom were worth $15,932,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG bought a new stake in DexCom in the fourth quarter valued at $1,784,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in DexCom in the fourth quarter valued at $1,842,000. Point72 Hong Kong Ltd bought a new stake in DexCom in the fourth quarter valued at $700,000. Polar Asset Management Partners Inc. bought a new stake in DexCom in the fourth quarter valued at $3,699,000. Finally, Polar Capital Holdings Plc lifted its stake in DexCom by 80.6% in the fourth quarter. Polar Capital Holdings Plc now owns 302,456 shares of the medical device company’s stock valued at $23,522,000 after buying an additional 134,956 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Cfra Research upgraded DexCom to a “hold” rating in a research note on Friday, March 21st. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Piper Sandler cut their price objective on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley lifted their price objective on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average price target of $98.11.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $914,940.00. Following the transaction, the executive vice president now owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. This trade represents a 10.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jacob Steven Leach sold 14,076 shares of DexCom stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the transaction, the chief operating officer now directly owns 313,497 shares in the company, valued at $22,063,918.86. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,926 shares of company stock worth $4,734,384. 0.32% of the stock is owned by corporate insiders.

DexCom Price Performance

Shares of DexCom stock opened at $85.67 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $71.70 and its two-hundred day moving average price is $77.51. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $132.26. The stock has a market cap of $33.59 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $0.32 earnings per share. DexCom’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.