DexCom, Inc. $DXCM Shares Sold by Sofinnova Investments Inc.

Sofinnova Investments Inc. decreased its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 51.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 378,219 shares of the medical device company’s stock after selling 401,397 shares during the period. Sofinnova Investments Inc. owned 0.10% of DexCom worth $25,102,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Twin City Private Wealth LLC purchased a new position in DexCom during the fourth quarter worth $433,000. USS Investment Management Ltd increased its position in DexCom by 8.3% during the fourth quarter. USS Investment Management Ltd now owns 89,480 shares of the medical device company’s stock worth $5,939,000 after buying an additional 6,869 shares in the last quarter. Sargent Investment Group LLC purchased a new position in DexCom during the fourth quarter worth $386,000. Mariner LLC increased its position in DexCom by 92.0% during the fourth quarter. Mariner LLC now owns 84,850 shares of the medical device company’s stock worth $5,636,000 after buying an additional 40,654 shares in the last quarter. Finally, Focus Partners Wealth increased its position in DexCom by 99.3% during the fourth quarter. Focus Partners Wealth now owns 54,490 shares of the medical device company’s stock worth $3,618,000 after buying an additional 27,152 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

Shares of DexCom stock opened at $74.22 on Tuesday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The stock has a market capitalization of $28.64 billion, a P/E ratio of 31.72, a PEG ratio of 1.18 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The business’s fifty day moving average price is $66.37 and its 200 day moving average price is $67.68.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that DexCom, Inc. will post 2.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DXCM shares. UBS Group set a $95.00 price target on DexCom in a research report on Wednesday, June 10th. Barclays reissued an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Bank of America lowered their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded DexCom from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.83.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the transaction, the insider owned 382,482 shares in the company, valued at approximately $27,538,704. This represents a 6.54% decrease in their position. 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 ninety days, insiders have sold 40,994 shares of company stock worth $2,919,022. 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.