DAVENPORT & Co LLC Has $1.87 Million Position in DexCom, Inc. $DXCM

DAVENPORT & Co LLC lowered its holdings in DexCom, Inc. (NASDAQ:DXCM) by 66.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,105 shares of the medical device company’s stock after selling 56,862 shares during the period. DAVENPORT & Co LLC’s holdings in DexCom were worth $1,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DXCM. E. Ohman J or Asset Management AB grew its stake in DexCom by 49.0% in the fourth quarter. E. Ohman J or Asset Management AB now owns 115,492 shares of the medical device company’s stock valued at $7,665,000 after purchasing an additional 38,000 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new stake in shares of DexCom during the 4th quarter worth about $204,000. Clear Trail Advisors LLC acquired a new stake in shares of DexCom during the 4th quarter valued at about $249,000. Assenagon Asset Management S.A. lifted its holdings in shares of DexCom by 48.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,226,449 shares of the medical device company’s stock valued at $81,399,000 after buying an additional 397,690 shares during the last quarter. Finally, Diversified Trust Co. grew its stake in shares of DexCom by 17.6% in the 4th quarter. Diversified Trust Co. now owns 11,524 shares of the medical device company’s stock valued at $765,000 after buying an additional 1,726 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.85, for a total value of $110,245.00. Following the sale, the executive vice president directly owned 112,904 shares in the company, valued at approximately $7,321,824.40. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler reissued an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Wells Fargo & Company reduced their price objective on shares of DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Tuesday, March 24th. BTIG Research reissued a “buy” rating and set a $85.00 target price on shares of DexCom in a research report on Monday, March 9th. Finally, Morgan Stanley restated an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

DexCom Price Performance

NASDAQ:DXCM opened at $62.25 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a fifty day moving average price of $70.06 and a 200 day moving average price of $67.63. The stock has a market cap of $23.96 billion, a P/E ratio of 29.64, a PEG ratio of 1.21 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.45 EPS. Analysts anticipate 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.