Essex Investment Management Co. LLC decreased its stake in DexCom Inc. (NASDAQ:DXCM) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 20,456 shares of the medical device company’s stock after selling 183 shares during the period. Essex Investment Management Co. LLC’s holdings in DexCom were worth $1,623,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of DXCM. Calamos Advisors LLC bought a new position in shares of DexCom during the second quarter valued at about $22,764,000. American Century Companies Inc. raised its position in shares of DexCom by 7.3% in the second quarter. American Century Companies Inc. now owns 806,639 shares of the medical device company’s stock valued at $63,991,000 after buying an additional 54,684 shares in the last quarter. Diversified Trust Co bought a new position in shares of DexCom during the second quarter valued at about $1,070,000. Bank of Montreal Can bought a new position in shares of DexCom during the second quarter valued at about $134,000. Finally, Parametrica Management Ltd bought a new position in shares of DexCom during the second quarter valued at about $254,000. 99.37% of the stock is currently owned by institutional investors and hedge funds.
DexCom Inc. (NASDAQ:DXCM) traded down 0.16% during trading on Friday, hitting $87.66. 1,025,933 shares of the stock traded hands. DexCom Inc. has a 52-week low of $47.92 and a 52-week high of $96.38. The firm has a 50-day moving average price of $91.93 and a 200 day moving average price of $77.09. The company’s market cap is $7.35 billion.
DexCom (NASDAQ:DXCM) last posted its earnings results on Tuesday, August 2nd. The medical device company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.12. The company had revenue of $137.30 million for the quarter, compared to the consensus estimate of $132.48 million. DexCom had a negative net margin of 16.42% and a negative return on equity of 19.68%. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. On average, equities analysts expect that DexCom Inc. will post ($0.57) EPS for the current year.
Several brokerages recently issued reports on DXCM. B. Riley started coverage on shares of DexCom in a research note on Monday. They set a “neutral” rating and a $97.00 target price on the stock. BMO Capital Markets started coverage on shares of DexCom in a research note on Friday, September 16th. They issued an “outperform” rating and a $112.00 price objective on the stock. Desjardins raised shares of DexCom from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. BTIG Research lowered shares of DexCom from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research note on Wednesday, September 14th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $100.00 price objective (up from $93.00) on shares of DexCom in a research note on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. DexCom has a consensus rating of “Buy” and an average target price of $95.08.
In other news, EVP Richard Doubleday sold 3,182 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $93.97, for a total value of $299,012.54. Following the completion of the sale, the executive vice president now owns 83,582 shares in the company, valued at $7,854,200.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin R. Sayer sold 7,000 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $79.92, for a total value of $559,440.00. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.
DexCom Company Profile
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers for the treatment of people with and without diabetes. Its products include SEVEN PLUS, DexCom G4, DexCom G4 PLATINUM, DexCom Share System and DexCom G5 Mobile.
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