Sterling Capital Management LLC Sells 7,535 Shares of DexCom, Inc. $DXCM

Sterling Capital Management LLC cut its position in DexCom, Inc. (NASDAQ:DXCM) by 8.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,267 shares of the medical device company’s stock after selling 7,535 shares during the quarter. Sterling Capital Management LLC’s holdings in DexCom were worth $6,667,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DXCM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of DexCom by 15.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after buying an additional 1,515,702 shares during the last quarter. Janus Henderson Group PLC lifted its position in DexCom by 32.3% during the first quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock valued at $166,077,000 after acquiring an additional 645,534 shares during the last quarter. Legal & General Group Plc purchased a new stake in DexCom during the second quarter valued at approximately $173,237,000. Arrowstreet Capital Limited Partnership boosted its stake in DexCom by 100.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after acquiring an additional 1,275,142 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in DexCom in the second quarter valued at approximately $164,035,000. 97.75% of the stock is currently owned by institutional investors.

Insider Transactions at DexCom

In other news, EVP Michael Brown sold 1,700 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $85.48, for a total value of $145,316.00. Following the sale, the executive vice president owned 98,185 shares in the company, valued at $8,392,853.80. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the transaction, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. This trade represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 24,257 shares of company stock valued at $2,049,173. 0.28% of the stock is owned by company insiders.

DexCom Stock Down 0.5%

NASDAQ:DXCM opened at $77.94 on Friday. The company has a market cap of $29.41 billion, a PE ratio of 30.81, a P/E/G ratio of 1.31 and a beta of 1.48. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $86.79 and its two-hundred day moving average is $76.54.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. Analysts anticipate that DexCom, Inc. will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $94.00 price target on shares of DexCom in a report on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. TD Cowen reissued a “buy” rating and issued a $95.00 price objective on shares of DexCom in a research report on Friday, September 18th. Wells Fargo & Company raised their price objective on DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Canaccord Genuity Group set a $90.00 target price on DexCom and gave the stock a “buy” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, DexCom currently has an average rating of “Buy” and a consensus target price of $92.43.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.