March Altus Capital Management LP cut its stake in shares of DexCom Inc. (NASDAQ:DXCM) by 38.6% during the second quarter, Holdings Channel reports. The institutional investor owned 11,700 shares of the medical device company’s stock after selling 7,346 shares during the period. DexCom comprises 7.2% of March Altus Capital Management LP’s investment portfolio, making the stock its 8th largest position. March Altus Capital Management LP’s holdings in DexCom were worth $928,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Loomis Sayles & Co. L P boosted its stake in DexCom by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 25,898 shares of the medical device company’s stock valued at $1,759,000 after buying an additional 94 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in DexCom by 1.7% in the second quarter. Eqis Capital Management Inc. now owns 7,246 shares of the medical device company’s stock valued at $575,000 after buying an additional 119 shares in the last quarter. IBM Retirement Fund boosted its stake in DexCom by 3.7% in the second quarter. IBM Retirement Fund now owns 8,303 shares of the medical device company’s stock valued at $659,000 after buying an additional 297 shares in the last quarter. Legal & General Group Plc boosted its stake in DexCom by 24.2% in the first quarter. Legal & General Group Plc now owns 5,171 shares of the medical device company’s stock valued at $351,000 after buying an additional 1,008 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in DexCom during the second quarter valued at approximately $134,000. 99.37% of the stock is owned by institutional investors and hedge funds.
DexCom Inc. (NASDAQ:DXCM) traded down 4.25% during midday trading on Wednesday, reaching $89.74. The company’s stock had a trading volume of 4,488,741 shares. The stock’s 50-day moving average price is $92.13 and its 200-day moving average price is $76.75. DexCom Inc. has a 12 month low of $47.92 and a 12 month high of $96.38. The firm’s market capitalization is $7.53 billion.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Tuesday, August 2nd. The medical device company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.12. The firm had revenue of $137.30 million for the quarter, compared to the consensus estimate of $132.48 million. DexCom had a negative return on equity of 19.68% and a negative net margin of 16.42%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. Analysts predict that DexCom Inc. will post ($0.57) EPS for the current year.
Several analysts have recently commented on the company. B. Riley assumed coverage on DexCom in a report on Monday. They issued a “neutral” rating and a $97.00 price target for the company. Jefferies Group reissued a “buy” rating and issued a $98.00 price target on shares of DexCom in a report on Wednesday, August 3rd. JPMorgan Chase & Co. reissued a “buy” rating and issued a $100.00 price target on shares of DexCom in a report on Wednesday, August 3rd. Zacks Investment Research raised DexCom from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $100.00 price objective (up from $93.00) on shares of DexCom in a report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $95.08.
In related news, insider Terrance H. Gregg sold 40,000 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $90.70, for a total value of $3,628,000.00. Following the sale, the insider now directly owns 451,486 shares of the company’s stock, valued at approximately $40,949,780.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jorge A. Valdes sold 32,000 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $79.36, for a total transaction of $2,539,520.00. Following the completion of the sale, the insider now directly owns 123,667 shares in the company, valued at $9,814,213.12. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.
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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