Courier Capital LLC Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Courier Capital LLC cut its stake in DexCom, Inc. (NASDAQ:DXCM) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,833 shares of the medical device company’s stock after selling 462 shares during the period. Courier Capital LLC’s holdings in DexCom were worth $1,641,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DXCM. Capital Research Global Investors increased its stake in shares of DexCom by 21.4% during the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after purchasing an additional 2,695,296 shares in the last quarter. Sands Capital Management LLC increased its stake in shares of DexCom by 10.2% during the 4th quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock worth $1,868,647,000 after purchasing an additional 1,398,136 shares in the last quarter. Capital World Investors increased its stake in shares of DexCom by 130.7% during the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after purchasing an additional 5,256,092 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of DexCom by 164.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after purchasing an additional 3,672,471 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of DexCom during the 4th quarter worth approximately $540,178,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bridgette P. Heller sold 1,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $113.55, for a total value of $113,550.00. Following the transaction, the director now owns 25,349 shares of the company’s stock, valued at approximately $2,878,378.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Michael Jon Brown sold 659 shares of DexCom stock in a transaction on Friday, June 28th. The shares were sold at an average price of $114.29, for a total transaction of $75,317.11. Following the sale, the executive vice president now owns 66,901 shares of the company’s stock, valued at approximately $7,646,115.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bridgette P. Heller sold 1,000 shares of DexCom stock in a transaction on Friday, June 14th. The stock was sold at an average price of $113.55, for a total transaction of $113,550.00. Following the sale, the director now directly owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,735 shares of company stock valued at $7,619,347. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DXCM. Citigroup raised their price objective on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. UBS Group raised their target price on shares of DexCom from $153.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Raymond James raised their target price on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 26th. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Finally, Redburn Atlantic assumed coverage on shares of DexCom in a research report on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price on the stock. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and a consensus price target of $140.33.

DexCom Stock Performance

Shares of DXCM stock opened at $113.38 on Friday. The company’s fifty day simple moving average is $123.14 and its 200-day simple moving average is $125.66. DexCom, Inc. has a 52 week low of $74.75 and a 52 week high of $142.00. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08. The company has a market cap of $45.09 billion, a PE ratio of 73.15, a P/E/G ratio of 2.77 and a beta of 1.22.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 25th. The medical device company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The business had revenue of $921.00 million for the quarter, compared to the consensus estimate of $911.20 million. As a group, equities research analysts anticipate that DexCom, Inc. will post 1.78 EPS for the current 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.