DexCom, Inc. $DXCM Stock Holdings Trimmed by Sofinnova Investments Inc.

Sofinnova Investments Inc. reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 51.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 378,219 shares of the medical device company’s stock after selling 401,397 shares during the quarter. Sofinnova Investments Inc.’s holdings in DexCom were worth $25,102,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Twin City Private Wealth LLC bought a new position in shares of DexCom during the fourth quarter valued at approximately $433,000. USS Investment Management Ltd grew its holdings in DexCom by 8.3% in the 4th quarter. USS Investment Management Ltd now owns 89,480 shares of the medical device company’s stock worth $5,939,000 after buying an additional 6,869 shares in the last quarter. Sargent Investment Group LLC acquired a new stake in DexCom in the fourth quarter worth approximately $386,000. Mariner LLC lifted its position in DexCom by 92.0% in the fourth quarter. Mariner LLC now owns 84,850 shares of the medical device company’s stock worth $5,636,000 after purchasing an additional 40,654 shares during the period. Finally, Focus Partners Wealth lifted its position in DexCom by 99.3% in the fourth quarter. Focus Partners Wealth now owns 54,490 shares of the medical device company’s stock worth $3,618,000 after purchasing an additional 27,152 shares during the period. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Robert W. Baird set a $80.00 price objective on DexCom in a research report on Friday, May 1st. Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. UBS Group set a $95.00 price target on shares of DexCom in a research note on Wednesday, June 10th. TD Cowen reaffirmed a “buy” rating and issued a $95.00 price target (up from $75.00) on shares of DexCom in a research note on Wednesday, June 10th. Finally, Bank of America lowered their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.83.

DexCom Stock Down 1.5%

NASDAQ DXCM opened at $74.22 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The firm has a 50-day simple moving average of $66.37 and a 200 day simple moving average of $67.68. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The stock has a market cap of $28.64 billion, a PE ratio of 31.72, a PEG ratio of 1.18 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. On average, research analysts forecast that DexCom, Inc. will post 2.58 EPS for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the transaction, the director owned 25,007 shares in the company, valued at $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. This represents a 4.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,994 shares of company stock worth $2,919,022 in the last three months. 0.28% of the stock is currently owned by company insiders.

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.