Price T Rowe Associates Inc. MD Decreases Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Price T Rowe Associates Inc. MD lowered its position in DexCom, Inc. (NASDAQ:DXCM) by 46.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,947,440 shares of the medical device company’s stock after selling 2,552,456 shares during the period. Price T Rowe Associates Inc. MD’s holdings in DexCom were worth $408,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steel Grove Capital Advisors LLC purchased a new position in DexCom in the 1st quarter valued at $354,000. LRI Investments LLC purchased a new position in DexCom in the 1st quarter valued at $361,000. 1832 Asset Management L.P. lifted its holdings in DexCom by 1.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock valued at $252,906,000 after purchasing an additional 20,400 shares in the last quarter. First Commonwealth Financial Corp PA purchased a new position in DexCom in the 1st quarter valued at $1,429,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of DexCom by 13.9% during the 1st quarter. Advisors Asset Management Inc. now owns 14,800 shares of the medical device company’s stock worth $2,053,000 after acquiring an additional 1,809 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Up 4.9 %

DXCM stock traded up $3.15 during trading on Monday, hitting $67.15. 8,863,029 shares of the company’s stock were exchanged, compared to its average volume of 3,317,020. The business has a 50-day moving average price of $115.28 and a two-hundred day moving average price of $123.76. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 1.58 and a beta of 1.16. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that DexCom, Inc. will post 1.76 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on DXCM shares. BTIG Research reduced their price target on DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a report on Friday. Raymond James lifted their price target on DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. Redburn Atlantic started coverage on DexCom in a report on Thursday, May 30th. They set a “neutral” rating and a $130.00 price target on the stock. Baird R W lowered DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley cut their price objective on DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average target price of $113.06.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 427 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $49,126.35. Following the transaction, the executive vice president now owns 75,877 shares of the company’s stock, valued at $8,729,648.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Sadie Stern sold 427 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $49,126.35. Following the transaction, the executive vice president now owns 75,877 shares of the company’s stock, valued at $8,729,648.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $119.24, for a total value of $77,744.48. Following the transaction, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,112 shares of company stock worth $480,861. 0.30% of the stock is 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; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.