DexCom, Inc. (NASDAQ:DXCM) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its position in DexCom, Inc. (NASDAQ:DXCM) by 36.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,379 shares of the medical device company’s stock after selling 18,911 shares during the quarter. PDT Partners LLC’s holdings in DexCom were worth $2,596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DXCM. Norges Bank acquired a new stake in DexCom during the 4th quarter worth approximately $385,367,000. Congress Asset Management Co. lifted its holdings in shares of DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after purchasing an additional 1,332,522 shares during the period. Fisher Funds Management LTD purchased a new position in DexCom in the 4th quarter valued at $96,507,000. Northern Trust Corp increased its stake in DexCom by 22.2% in the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock valued at $322,454,000 after buying an additional 753,857 shares during the period. Finally, Jennison Associates LLC raised its position in DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock worth $594,455,000 after buying an additional 710,858 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Transactions at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $2,287,209.24. Following the completion of the sale, the chief executive officer now owns 372,029 shares in the company, valued at $26,183,401.02. The trade was a 8.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jacob Steven Leach sold 14,076 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $990,668.88. Following the transaction, the chief operating officer now owns 313,497 shares in the company, valued at approximately $22,063,918.86. The trade was a 4.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,926 shares of company stock worth $4,734,384 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

DexCom Stock Performance

DexCom stock opened at $71.30 on Wednesday. DexCom, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $132.26. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 49.86, a PEG ratio of 2.30 and a beta of 1.50. The stock has a fifty day moving average of $72.35 and a two-hundred day moving average of $76.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. On average, analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DXCM shares. Cfra Research raised shares of DexCom to a “hold” rating in a report on Friday, March 21st. Mizuho began coverage on DexCom in a report on Thursday, April 10th. They issued an “outperform” rating and a $85.00 price objective on the stock. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $86.00 to $104.00 in a research note on Thursday, January 16th. Citigroup lifted their price target on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley increased their price objective on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

DexCom Company 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.