Cornerstone Advisors LLC Sells 7,300 Shares of DexCom, Inc. $DXCM

Cornerstone Advisors LLC cut its position in DexCom, Inc. (NASDAQ:DXCM) by 28.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,600 shares of the medical device company’s stock after selling 7,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in DexCom were worth $1,252,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of DexCom by 9.4% in the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after buying an additional 994,300 shares during the last quarter. Marshall Wace LLP raised its stake in DexCom by 260.7% in the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock worth $333,630,000 after acquiring an additional 2,762,504 shares during the last quarter. E. Ohman J or Asset Management AB lifted its position in DexCom by 400.2% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after acquiring an additional 62,000 shares during the period. Zevenbergen Capital Investments LLC grew its stake in DexCom by 10.0% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after purchasing an additional 62,098 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of DexCom by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 212,045 shares of the medical device company’s stock valued at $14,269,000 after purchasing an additional 21,352 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada decreased their target price on DexCom from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Canaccord Genuity Group set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th. UBS Group dropped their price objective on shares of DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company reduced their target price on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Finally, Mizuho upped their price target on shares of DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.18.

DexCom Stock Up 3.4%

DXCM opened at $72.80 on Thursday. The company has a fifty day moving average of $69.30 and a two-hundred day moving average of $69.35. The stock has a market capitalization of $28.02 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 1.37 and a beta of 1.49. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $91.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the business earned $0.45 EPS. DexCom’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.