Cornerstone Advisors LLC Sells 1,300 Shares of DexCom, Inc. (NASDAQ:DXCM)

Cornerstone Advisors LLC trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the medical device company’s stock after selling 1,300 shares during the period. Cornerstone Advisors LLC’s holdings in DexCom were worth $2,404,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in shares of DexCom during the first quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in DexCom during the 2nd quarter valued at $25,000. DSM Capital Partners LLC bought a new position in DexCom in the 4th quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of DexCom in the 1st quarter worth about $32,000. Finally, Sachetta LLC boosted its stake in shares of DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 171 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Activity at DexCom

In other DexCom news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at $18,318,872.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,483 shares of company stock worth $201,708. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

DXCM has been the topic of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Redburn Atlantic assumed coverage on shares of DexCom in a research note on Thursday, May 30th. They issued a “neutral” rating and a $130.00 price target on the stock. Oppenheimer lowered their price objective on DexCom from $150.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $75.00 in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.25.

DexCom Trading Up 0.8 %

Shares of DXCM opened at $70.09 on Tuesday. The firm has a market cap of $27.87 billion, a P/E ratio of 45.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a 50 day simple moving average of $81.54 and a two-hundred day simple moving average of $110.92.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data 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. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts expect that DexCom, Inc. will post 1.69 earnings per share for the current fiscal year.

About DexCom

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.