HighTower Advisors LLC Sells 11,484 Shares of DexCom, Inc. $DXCM

HighTower Advisors LLC trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 9.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,580 shares of the medical device company’s stock after selling 11,484 shares during the quarter. HighTower Advisors LLC’s holdings in DexCom were worth $7,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in DexCom in the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors bought a new stake in shares of DexCom during the first quarter worth $25,000. MCF Advisors LLC acquired a new position in shares of DexCom during the fourth quarter worth $32,000. Wellington Grp LLC increased its holdings in shares of DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock worth $34,000 after buying an additional 475 shares in the last quarter. Finally, DV Equities LLC bought a new position in shares of DexCom in the 4th quarter valued at $36,000. Institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on DexCom and gave the company a “buy” rating in a research report on Monday, August 3rd. Wells Fargo & Company lifted their price target on DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Citigroup restated a “buy” rating and set a $88.00 price target (up from $84.00) on shares of DexCom in a report on Friday, July 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Insider Buying and Selling

In other news, EVP Michael Brown sold 1,700 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the transaction, the executive vice president directly owned 106,353 shares in the company, valued at $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the transaction, the insider directly owned 328,970 shares in the company, valued at approximately $25,106,990.40. This represents a 7.52% 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 ninety days, insiders sold 65,777 shares of company stock worth $4,950,714. Corporate insiders own 0.28% of the company’s stock.

DexCom Stock Performance

Shares of DexCom stock opened at $84.51 on Friday. The stock has a market cap of $31.89 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 1.41 and a beta of 1.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company’s fifty day moving average is $82.51 and its 200 day moving average is $72.73. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last announced its earnings results 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. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. Sell-side analysts forecast that DexCom, Inc. will post 2.64 EPS for the current year.

DexCom Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company’s products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.