DexCom, Inc. $DXCM Stake Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 23.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 748,438 shares of the medical device company’s stock after selling 225,362 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of DexCom worth $64,583,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. raised its stake in shares of DexCom by 13.6% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 30,527 shares of the medical device company’s stock worth $2,635,000 after buying an additional 3,659 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of DexCom by 12.3% in the third quarter. Maryland State Retirement & Pension System now owns 22,526 shares of the medical device company’s stock valued at $1,944,000 after buying an additional 2,468 shares during the period. Jacobi Capital Management LLC acquired a new stake in shares of DexCom in the third quarter valued at $43,000. First Command Advisory Services Inc. boosted its stake in DexCom by 321.2% during the third quarter. First Command Advisory Services Inc. now owns 1,887 shares of the medical device company’s stock valued at $163,000 after buying an additional 1,439 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in DexCom by 6.7% during the third quarter. Illinois Municipal Retirement Fund now owns 85,825 shares of the medical device company’s stock valued at $7,406,000 after buying an additional 5,388 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Buying and Selling

In other DexCom news, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $85.48, for a total transaction of $145,316.00. Following the completion of the sale, the executive vice president directly owned 98,185 shares of the company’s stock, valued at approximately $8,392,853.80. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the transaction, the executive vice president owned 126,043 shares of the company’s stock, valued at approximately $11,138,419.91. The trade was a 1.99% decrease in their ownership of the stock. 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 22,822 shares of company stock worth $1,920,193. Company insiders own 0.28% of the company’s stock.

DexCom Price Performance

Shares of DXCM traded up $1.94 during trading hours on Friday, hitting $83.33. 3,013,451 shares of the company were exchanged, compared to its average volume of 5,026,628. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.74 and a quick ratio of 1.40. The company has a market capitalization of $31.08 billion, a PE ratio of 32.68, a PEG ratio of 1.34 and a beta of 1.45. The firm has a fifty day simple moving average of $84.30 and a 200-day simple moving average of $75.21. DexCom, Inc. has a one year low of $56.72 and a one year high of $92.59.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. DexCom’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that DexCom, Inc. will post 2.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DXCM. Barclays lifted their target price on DexCom from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Canaccord Genuity Group upped their price target on shares of DexCom from $90.00 to $97.00 and gave the company a “buy” rating in a report on Friday, October 30th. Leerink Partners cut their price target on shares of DexCom from $94.00 to $87.00 and set an “outperform” rating for the company in a report on Monday, October 26th. Wells Fargo & Company raised their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Evercore lifted their price objective on shares of DexCom from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $95.50.

DexCom Company Profile

DexCom, Inc. develops and markets continuous glucose monitoring (CGM) systems for people with diabetes. Its wearable sensors measure glucose levels throughout the day and send readings to compatible receivers or mobile devices, helping users monitor glucose trends and support treatment decisions. The company’s products include its Dexcom G6 and G7 CGM systems, along with software and connected services for users and caregivers. DexCom also offers Stelo, an over-the-counter glucose biosensor designed for adults who do not use insulin.