Pitcairn Co. cut its stake in shares of Dexcom (NASDAQ:DXCM) by 15.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,223 shares of the medical device company’s stock after selling 4,574 shares during the period. Pitcairn Co.’s holdings in Dexcom were worth $1,870,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Domini Impact Investments LLC purchased a new stake in shares of Dexcom during the 1st quarter valued at $267,000. Sei Investments Co. boosted its position in Dexcom by 8.8% during the 1st quarter. Sei Investments Co. now owns 111,809 shares of the medical device company’s stock worth $8,292,000 after purchasing an additional 9,011 shares during the period. PNC Financial Services Group Inc. boosted its position in Dexcom by 11.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,943 shares of the medical device company’s stock worth $440,000 after purchasing an additional 634 shares during the period. Dimensional Fund Advisors LP boosted its position in Dexcom by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 148,342 shares of the medical device company’s stock worth $11,001,000 after purchasing an additional 21,271 shares during the period. Finally, California Public Employees Retirement System boosted its position in Dexcom by 14.1% during the 1st quarter. California Public Employees Retirement System now owns 153,200 shares of the medical device company’s stock worth $11,361,000 after purchasing an additional 18,900 shares during the period.
A number of brokerages recently weighed in on DXCM. Zacks Investment Research cut shares of Dexcom from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. BMO Capital Markets raised shares of Dexcom to an “outperform” rating and set a $78.00 price target for the company in a research report on Thursday, March 29th. Piper Jaffray Companies set a $80.00 price target on shares of Dexcom and gave the stock a “buy” rating in a research report on Thursday, March 29th. JPMorgan Chase & Co. raised shares of Dexcom from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $115.00 in a research report on Friday, June 8th. Finally, Canaccord Genuity upped their price target on shares of Dexcom from $81.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $74.50.
Shares of Dexcom opened at $99.56 on Friday, MarketBeat.com reports. Dexcom has a 12 month low of $42.62 and a 12 month high of $102.10. The company has a current ratio of 5.83, a quick ratio of 5.42 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of -171.66 and a beta of -0.01.
Dexcom (NASDAQ:DXCM) last issued its quarterly earnings data on Wednesday, May 2nd. The medical device company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The firm had revenue of $184.40 million for the quarter, compared to analyst estimates of $172.66 million. Dexcom had a negative net margin of 4.30% and a negative return on equity of 9.32%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.49) EPS. sell-side analysts forecast that Dexcom will post -0.51 EPS for the current fiscal year.
In other news, EVP Richard Doubleday sold 2,581 shares of the company’s stock in a transaction dated Monday, April 23rd. The shares were sold at an average price of $73.09, for a total value of $188,645.29. Following the sale, the executive vice president now owns 94,429 shares in the company, valued at approximately $6,901,815.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrance H. Gregg sold 10,000 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $73.04, for a total transaction of $730,400.00. Following the completion of the sale, the insider now owns 521,674 shares in the company, valued at approximately $38,103,068.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,794 shares of company stock worth $11,916,332. Company insiders own 1.80% of the company’s stock.
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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.
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