Arizona State Retirement System Reduces Stock Position in DexCom, Inc. $DXCM

Arizona State Retirement System cut its holdings in DexCom, Inc. (NASDAQ:DXCM) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,481 shares of the medical device company’s stock after selling 8,634 shares during the period. Arizona State Retirement System’s holdings in DexCom were worth $7,134,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. SJS Investment Consulting Inc. raised its holdings in DexCom by 4,800.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 384 shares during the period. Financial Consulate Inc. bought a new position in shares of DexCom in the third quarter worth $29,000. CVA Family Office LLC boosted its holdings in shares of DexCom by 48.5% in the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after acquiring an additional 147 shares during the period. ORG Partners LLC grew its position in shares of DexCom by 124.3% in the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after purchasing an additional 281 shares in the last quarter. Finally, Spire Wealth Management grew its position in shares of DexCom by 113.8% in the fourth quarter. Spire Wealth Management now owns 573 shares of the medical device company’s stock valued at $38,000 after purchasing an additional 305 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird set a $87.00 price objective on DexCom in a report on Friday, February 13th. BTIG Research reaffirmed a “buy” rating and set a $85.00 target price on shares of DexCom in a report on Monday, March 9th. Barclays reiterated an “underweight” rating and set a $72.00 price target (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Mizuho increased their price target on shares of DexCom from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Canaccord Genuity Group set a $95.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Insider Transactions at DexCom

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the completion of the sale, the executive vice president owned 111,204 shares of the company’s stock, valued at $7,010,300.16. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is currently owned by company insiders.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $61.57 on Monday. The company’s fifty day moving average price is $66.82 and its 200-day moving average price is $66.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.20 and a beta of 1.55. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts anticipate that DexCom, Inc. will post 2.49 earnings per share for the current fiscal 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.