King Luther Capital Management Corp Sells 31,529 Shares of DexCom, Inc. $DXCM

King Luther Capital Management Corp trimmed its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,054 shares of the medical device company’s stock after selling 31,529 shares during the period. King Luther Capital Management Corp’s holdings in DexCom were worth $13,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DXCM. Holocene Advisors LP bought a new stake in DexCom in the 3rd quarter valued at about $163,964,000. CIBC Private Wealth Group LLC raised its stake in DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after acquiring an additional 2,294,709 shares during the period. Vanguard Group Inc. raised its stake in DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after acquiring an additional 1,133,638 shares during the period. Intermede Investment Partners Ltd bought a new stake in DexCom in the 4th quarter valued at about $60,351,000. Finally, Iron Triangle Partners LP bought a new stake in DexCom in the 3rd quarter valued at about $57,196,000. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the sale, the director directly owned 25,007 shares in the company, valued at $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $72.00, for a total value of $1,926,648.00. Following the transaction, the insider directly owned 382,482 shares of the company’s stock, valued at $27,538,704. The trade was a 6.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,871 shares of company stock worth $2,306,638 over the last ninety days. Company insiders own 0.28% of the company’s stock.

DexCom Trading Down 2.4%

Shares of DXCM opened at $70.26 on Thursday. The business’s 50-day moving average price is $63.95 and its 200-day moving average price is $66.27. 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 $27.11 billion, a PE ratio of 30.03, a P/E/G ratio of 1.19 and a beta of 1.40. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM) last announced its quarterly 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 return on equity of 33.33% and a net margin of 19.31%.The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts forecast that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DXCM. Truist Financial restated a “buy” rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. TD Cowen lowered their price objective on DexCom from $84.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Raymond James Financial set a $81.00 price objective on DexCom in a research note on Friday, May 1st. Bank of America lowered their price objective on DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Evercore upgraded DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average target price of $82.21.

About DexCom

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.