Cercano Management LLC Lowers Stake in DexCom, Inc. (NASDAQ:DXCM)

Cercano Management LLC lessened its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 87.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 95,136 shares of the medical device company's stock after selling 670,280 shares during the period. Cercano Management LLC's holdings in DexCom were worth $7,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DXCM. Wilmington Savings Fund Society FSB purchased a new stake in shares of DexCom in the 3rd quarter valued at $381,000. B. Riley Wealth Advisors Inc. increased its stake in DexCom by 42.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 5,590 shares of the medical device company's stock worth $370,000 after purchasing an additional 1,662 shares during the period. Versant Capital Management Inc purchased a new stake in DexCom during the fourth quarter worth about $25,000. Nordea Investment Management AB lifted its position in shares of DexCom by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 80,590 shares of the medical device company's stock worth $6,271,000 after purchasing an additional 2,183 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of DexCom by 556.1% in the fourth quarter. First Hawaiian Bank now owns 23,159 shares of the medical device company's stock valued at $1,801,000 after purchasing an additional 19,629 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Stock Performance

NASDAQ DXCM opened at $80.27 on Tuesday. The company has a fifty day moving average of $71.27 and a two-hundred day moving average of $76.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom, Inc. has a 1 year low of $57.52 and a 1 year high of $132.26. The company has a market capitalization of $31.47 billion, a PE ratio of 56.13, a P/E/G ratio of 2.30 and a beta of 1.43.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on DXCM. Cfra Research upgraded shares of DexCom to a "hold" rating in a report on Friday, March 21st. Baird R W upgraded DexCom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Redburn Atlantic upgraded DexCom from a "neutral" rating to a "buy" rating and lifted their target price for the company from $85.00 to $115.00 in a report on Monday, February 3rd. Wells Fargo & Company restated an "overweight" rating on shares of DexCom in a report on Saturday, March 8th. Finally, Piper Sandler decreased their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.11.

Insider Activity

In related news, COO Jacob Steven Leach sold 14,076 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $990,668.88. Following the transaction, the chief operating officer now owns 313,497 shares of the company's stock, valued at $22,063,918.86. This trade represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin R. Sayer sold 32,498 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $2,287,209.24. Following the sale, the chief executive officer now directly owns 372,029 shares of the company's stock, valued at approximately $26,183,401.02. This represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,926 shares of company stock valued at $4,734,384 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

About DexCom

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.

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