DexCom, Inc. (NASDAQ:DXCM) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in DexCom, Inc. (NASDAQ:DXCM) by 52.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,454 shares of the medical device company’s stock after selling 23,375 shares during the quarter. Cresset Asset Management LLC’s holdings in DexCom were worth $1,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Congress Asset Management Co. grew its holdings in DexCom by 5,456.9% in the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after purchasing an additional 1,332,522 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in DexCom by 2,226.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company’s stock valued at $18,085,000 after acquiring an additional 222,548 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in DexCom in the 4th quarter valued at about $5,812,000. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in DexCom by 500.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,000 shares of the medical device company’s stock valued at $467,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in DexCom during the fourth quarter worth about $228,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Citigroup boosted their price target on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Piper Sandler reduced their price objective on DexCom from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Mizuho began coverage on DexCom in a research report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.11.

Insider Transactions at DexCom

In other news, 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 value of $990,668.88. Following the completion of the sale, the chief operating officer now owns 313,497 shares in the company, valued at approximately $22,063,918.86. This trade represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Sayer sold 32,498 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 372,029 shares in the company, valued at $26,183,401.02. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,926 shares of company stock valued at $4,734,384 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

DexCom Price Performance

DXCM stock opened at $84.66 on Friday. The company has a market cap of $33.20 billion, a PE ratio of 59.20, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $71.08 and a two-hundred day moving average price of $77.20. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $132.26.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). DexCom had a return on equity of 30.14% and a net margin of 14.29%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

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.