DexCom, Inc. $DXCM Stock Position Decreased by Smith Group Asset Management LLC

Smith Group Asset Management LLC reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 38.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 433,114 shares of the medical device company’s stock after selling 268,233 shares during the period. DexCom comprises 2.4% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Smith Group Asset Management LLC owned approximately 0.11% of DexCom worth $37,373,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DXCM. Latitude Advisors LLC acquired a new position in shares of DexCom in the third quarter worth $32,000. Hilton Head Capital Partners LLC increased its position in shares of DexCom by 242.3% during the third quarter. Hilton Head Capital Partners LLC now owns 380 shares of the medical device company’s stock worth $33,000 after acquiring an additional 269 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of DexCom during the first quarter worth $25,000. Elevation Wealth Partners LLC raised its stake in shares of DexCom by 61.0% in the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock valued at $35,000 after acquiring an additional 152 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new stake in shares of DexCom in the third quarter valued at $35,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DexCom

In other DexCom news, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $78.62, for a total value of $201,660.30. Following the completion of the transaction, the executive vice president owned 120,913 shares in the company, valued at $9,506,180.06. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Foletta sold 2,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $85.32, for a total transaction of $170,640.00. Following the completion of the transaction, the director owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This represents a 3.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,822 shares of company stock valued at $2,250,833 over the last quarter. 0.28% of the stock is owned by corporate insiders.

DexCom Stock Up 0.1%

Shares of NASDAQ:DXCM opened at $78.62 on Thursday. The firm has a 50 day simple moving average of $86.18 and a 200-day simple moving average of $74.54. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $29.67 billion, a PE ratio of 31.08, a P/E/G ratio of 1.31 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm posted $0.48 EPS. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts predict that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company upped their price target on DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Stifel Nicolaus set a $95.00 price target on DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. Argus increased their price target on DexCom from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Mizuho set a $100.00 price objective on DexCom in a research note on Tuesday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $92.43.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.