DexCom, Inc. $DXCM Shares Sold by CI Investments Inc.

CI Investments Inc. reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 3.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 872,578 shares of the medical device company’s stock after selling 27,160 shares during the period. CI Investments Inc. owned approximately 0.23% of DexCom worth $54,798,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of DXCM. PNC Financial Services Group Inc. boosted its stake in shares of DexCom by 13.2% during the first quarter. PNC Financial Services Group Inc. now owns 42,456 shares of the medical device company’s stock worth $2,666,000 after buying an additional 4,965 shares during the period. Wilkerson Advisory Group LLC acquired a new position in DexCom in the 1st quarter valued at about $169,000. Cassaday & Co Wealth Management LLC acquired a new position in DexCom in the 1st quarter valued at about $44,000. Dimensional Fund Advisors LP raised its stake in DexCom by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,895,549 shares of the medical device company’s stock valued at $119,017,000 after acquiring an additional 23,844 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in DexCom by 16.4% during the 1st quarter. Parallel Advisors LLC now owns 2,861 shares of the medical device company’s stock valued at $180,000 after acquiring an additional 403 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

Shares of DXCM opened at $74.75 on Wednesday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The stock’s 50 day moving average is $71.75 and its two-hundred day moving average is $68.86. The firm has a market capitalization of $28.84 billion, a PE ratio of 31.94, a P/E/G ratio of 1.25 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. Research analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director owned 52,852 shares of the company’s stock, valued at $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares of the company’s stock, valued at $7,075,708.50. The trade was a 4.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 71,750 shares of company stock valued at $5,163,241. 0.28% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DXCM shares. Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Tuesday, March 24th. Sanford C. Bernstein set a $77.00 price target on DexCom in a research note on Friday, May 1st. UBS Group set a $95.00 price target on DexCom in a research note on Wednesday, June 10th. William Blair raised DexCom to a “strong-buy” rating in a report on Friday, May 15th. Finally, Citigroup reiterated a “buy” rating and issued a $84.00 price objective (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

DexCom Profile

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.