DAVENPORT & Co LLC Has $1.87 Million Stock Holdings in DexCom, Inc. $DXCM

DAVENPORT & Co LLC trimmed its position in DexCom, Inc. (NASDAQ:DXCM) by 66.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,105 shares of the medical device company’s stock after selling 56,862 shares during the quarter. DAVENPORT & Co LLC’s holdings in DexCom were worth $1,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in DexCom by 260.7% in the second quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after acquiring an additional 2,762,504 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in shares of DexCom by 400.2% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock valued at $5,214,000 after acquiring an additional 62,000 shares during the last quarter. Zevenbergen Capital Investments LLC raised its position in shares of DexCom by 10.0% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after acquiring an additional 62,098 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of DexCom by 11.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after purchasing an additional 21,352 shares during the period. Finally, Gradient Investments LLC lifted its stake in DexCom by 13.8% in the fourth quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company’s stock valued at $22,035,000 after buying an additional 40,343 shares in the last quarter. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DXCM. Sanford C. Bernstein restated an “outperform” rating and set a $86.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Leerink Partners reiterated an “outperform” rating and set a $92.00 target price on shares of DexCom in a report on Tuesday, December 16th. Mizuho boosted their price target on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Finally, Canaccord Genuity Group set a $95.00 price objective on DexCom and gave the stock a “buy” rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

DexCom Trading Down 5.8%

Shares of NASDAQ:DXCM opened at $62.25 on Friday. The company’s 50-day moving average price is $70.06 and its two-hundred day moving average price is $67.63. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The stock has a market capitalization of $23.96 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. DexCom’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.85, for a total transaction of $110,245.00. Following the sale, the executive vice president owned 112,904 shares in the company, valued at $7,321,824.40. This represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is owned by company insiders.

DexCom Company 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.