Kentucky Retirement Systems Trims Position in DexCom, Inc. (NASDAQ:DXCM)

Kentucky Retirement Systems trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,277 shares of the medical device company’s stock after selling 1,637 shares during the period. Kentucky Retirement Systems’ holdings in DexCom were worth $4,061,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. DSM Capital Partners LLC purchased a new position in shares of DexCom in the 4th quarter worth approximately $28,000. Crewe Advisors LLC acquired a new position in shares of DexCom in the 1st quarter valued at $29,000. Valley National Advisers Inc. lifted its stake in shares of DexCom by 73.0% in the 4th quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 103 shares during the period. Riverview Trust Co acquired a new position in shares of DexCom in the 1st quarter valued at $32,000. Finally, MV Capital Management Inc. lifted its stake in shares of DexCom by 99.3% in the 4th quarter. MV Capital Management Inc. now owns 277 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 138 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DXCM. Raymond James upped their price objective on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered shares of DexCom from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $145.00 to $75.00 in a report on Friday. Citigroup upped their target price on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $145.00 price objective on shares of DexCom in a report on Tuesday, July 23rd. Finally, BTIG Research dropped their price objective on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.06.

DexCom Price Performance

DexCom stock traded down $43.85 during midday trading on Friday, reaching $64.00. The company’s stock had a trading volume of 53,914,127 shares, compared to its average volume of 2,657,874. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90. The stock’s 50 day simple moving average is $115.28 and its 200 day simple moving average is $123.79. The firm has a market capitalization of $25.45 billion, a PE ratio of 41.29, a P/E/G ratio of 1.57 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 32.27%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts forecast that DexCom, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other news, EVP Michael Jon Brown sold 629 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total transaction of $79,411.25. Following the completion of the transaction, the executive vice president now directly owns 68,212 shares in the company, valued at approximately $8,611,765. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Michael Jon Brown sold 629 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total transaction of $79,411.25. Following the transaction, the executive vice president now directly owns 68,212 shares in the company, valued at $8,611,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jereme M. Sylvain sold 745 shares of the firm’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 transaction, the chief financial officer now owns 84,948 shares in the company, valued at $9,773,267.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,112 shares of company stock worth $480,861. 0.30% of the stock is currently owned by insiders.

About DexCom

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.