RS Investment Management Co. LLC lowered its stake in shares of DexCom Inc. (NASDAQ:DXCM) by 57.8% during the second quarter, Holdings Channel reports. The fund owned 309,651 shares of the medical device company’s stock after selling 424,435 shares during the period. RS Investment Management Co. LLC’s holdings in DexCom were worth $24,565,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bridger Management LLC bought a new stake in shares of DexCom during the first quarter valued at approximately $56,651,000. State Street Corp increased its stake in shares of DexCom by 7.2% in the first quarter. State Street Corp now owns 1,055,774 shares of the medical device company’s stock valued at $71,699,000 after buying an additional 71,009 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of DexCom by 17.9% in the first quarter. Renaissance Technologies LLC now owns 817,943 shares of the medical device company’s stock valued at $55,547,000 after buying an additional 124,000 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of DexCom by 6.3% in the first quarter. Geode Capital Management LLC now owns 523,958 shares of the medical device company’s stock valued at $35,581,000 after buying an additional 31,209 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of DexCom by 0.6% in the first quarter. BlackRock Fund Advisors now owns 929,897 shares of the medical device company’s stock valued at $63,149,000 after buying an additional 5,443 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.
Shares of DexCom Inc. (NASDAQ:DXCM) traded down 0.12% on Friday, hitting $93.91. The stock had a trading volume of 595,939 shares. The stock’s market cap is $7.88 billion. The firm’s 50-day moving average is $91.99 and its 200 day moving average is $76.17. DexCom Inc. has a 1-year low of $47.92 and a 1-year high of $96.38.
DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, August 2nd. The medical device company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.12. DexCom had a negative net margin of 16.42% and a negative return on equity of 19.68%. The firm earned $137.30 million during the quarter, compared to analysts’ expectations of $132.48 million. During the same quarter last year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Equities analysts forecast that DexCom Inc. will post ($0.57) EPS for the current year.
Several equities research analysts recently commented on DXCM shares. BMO Capital Markets started coverage on DexCom in a report on Friday, September 16th. They set an “outperform” rating and a $112.00 target price on the stock. Desjardins upgraded DexCom from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Leerink Swann reiterated an “outperform” rating and set a $90.00 target price on shares of DexCom in a report on Wednesday, July 20th. BTIG Research downgraded DexCom from a “buy” rating to a “neutral” rating and set a $92.00 target price on the stock. in a report on Wednesday, September 14th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $95.00 target price on shares of DexCom in a report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $94.96.
In other DexCom news, insider Terrance H. Gregg sold 10,740 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $95.29, for a total value of $1,023,414.60. Following the transaction, the insider now owns 451,486 shares in the company, valued at $43,022,100.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew K. Balo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $78.10, for a total value of $390,500.00. Following the completion of the transaction, the executive vice president now owns 134,979 shares in the company, valued at approximately $10,541,859.90. The disclosure for this sale can be found here. 2.80% of the stock is owned by company 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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