Paloma Partners Management Co Decreases Stake in DexCom, Inc. (NASDAQ:DXCM)

Paloma Partners Management Co lessened its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 40.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,853 shares of the medical device company’s stock after selling 1,245 shares during the quarter. Paloma Partners Management Co’s holdings in DexCom were worth $257,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New Hampshire purchased a new position in DexCom during the 1st quarter valued at about $1,508,000. abrdn plc grew its holdings in DexCom by 21.1% during the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after buying an additional 66,348 shares in the last quarter. Cerity Partners LLC grew its holdings in DexCom by 5,791.0% during the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after buying an additional 456,097 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in DexCom by 21.5% during the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after buying an additional 310,728 shares in the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of DexCom by 27.0% during the fourth quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock worth $40,123,000 after purchasing an additional 68,723 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling

In related news, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the sale, the director now directly owns 25,349 shares of the company’s stock, valued at $2,878,378.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Bridgette P. Heller sold 1,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the sale, the director now directly owns 25,349 shares of the company’s stock, valued at $2,878,378.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jereme M. Sylvain sold 745 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $85,712.25. Following the completion of the sale, the chief financial officer now directly owns 84,948 shares in the company, valued at $9,773,267.40. The disclosure for this sale can be found here. Insiders have sold a total of 3,483 shares of company stock valued at $401,450 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

DXCM has been the subject of several recent analyst reports. Royal Bank of Canada cut their price objective on DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Robert W. Baird lowered DexCom from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $161.00 to $80.00 in a report on Friday. Wells Fargo & Company cut their price objective on DexCom from $145.00 to $80.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, Piper Sandler cut their price objective on DexCom from $150.00 to $90.00 and set an “overweight” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.50.

DexCom Trading Up 3.3 %

DXCM stock traded up $2.25 during midday trading on Tuesday, hitting $69.73. The company had a trading volume of 6,102,163 shares, compared to its average volume of 3,401,980. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The stock’s 50 day moving average price is $114.02 and its 200 day moving average price is $123.33. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 1.58 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that DexCom, Inc. will post 1.76 earnings per share for the current fiscal 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.