Rock Springs Capital Management LP Sells 171,000 Shares of DexCom, Inc. (NASDAQ:DXCM)

Rock Springs Capital Management LP decreased its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 32.6% in the fourth quarter, HoldingsChannel reports. The firm owned 353,000 shares of the medical device company’s stock after selling 171,000 shares during the quarter. Rock Springs Capital Management LP’s holdings in DexCom were worth $27,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of DXCM. Norges Bank purchased a new position in DexCom during the 4th quarter valued at $385,367,000. Congress Asset Management Co. raised its stake in DexCom by 5,456.9% in the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after buying an additional 1,332,522 shares in the last quarter. Fisher Funds Management LTD purchased a new stake in DexCom in the fourth quarter worth about $96,507,000. Jennison Associates LLC boosted its position in DexCom by 10.3% during the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after acquiring an additional 710,858 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its holdings in shares of DexCom by 197.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 466,414 shares of the medical device company’s stock worth $36,273,000 after acquiring an additional 309,714 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other news, CEO Kevin R. Sayer sold 33,359 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the completion of the sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 2,634 shares of DexCom stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $228,920.94. Following the transaction, the chief operating officer now owns 268,644 shares in the company, valued at approximately $23,347,850.04. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,009 shares of company stock worth $8,044,178. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup upped their price target on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group boosted their price objective on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Cfra Research raised DexCom to a “hold” rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

DexCom Stock Down 0.2 %

Shares of DexCom stock opened at $68.59 on Monday. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $139.24. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $74.98 and its 200 day moving average is $76.75. The company has a market cap of $26.90 billion, a price-to-earnings ratio of 47.97, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current year.

DexCom Profile

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 provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.