DexCom, Inc. (NASDAQ:DXCM) Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC sold 681,643 shares of DexCom, reducing its holdings by 62.3% in the 1st quarter, resulting in ownership of approximately 412,778 shares valued at $28.19 million.
• A significant increase in stake was observed as Golden State Wealth Management LLC raised its holdings by 211.2%, while Stonebridge Financial Group LLC saw a substantial increase of 944.5% in the same quarter.
• DexCom reported a 15.2% increase in revenue year-over-year, with an EPS topping analysts' expectations; the consensus estimate for EPS for the current year is projected at $2.03.

Neuberger Berman Group LLC decreased its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 62.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,778 shares of the medical device company's stock after selling 681,643 shares during the quarter. Neuberger Berman Group LLC owned about 0.11% of DexCom worth $28,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after buying an additional 264 shares in the last quarter. Private Trust Co. NA raised its stake in shares of DexCom by 99.4% in the 1st quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock valued at $46,000 after purchasing an additional 335 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of DexCom by 29.3% in the 1st quarter. Farther Finance Advisors LLC now owns 3,100 shares of the medical device company's stock valued at $209,000 after purchasing an additional 702 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of DexCom by 34.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company's stock valued at $357,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Stonebridge Financial Group LLC raised its stake in shares of DexCom by 944.5% in the 1st quarter. Stonebridge Financial Group LLC now owns 3,217 shares of the medical device company's stock valued at $220,000 after purchasing an additional 2,909 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Price Performance

NASDAQ DXCM opened at $79.96 on Thursday. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $93.25. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The stock has a market cap of $31.36 billion, a price-to-earnings ratio of 55.53, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The company has a 50-day moving average price of $83.28 and a two-hundred day moving average price of $80.19.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The medical device company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. DexCom's quarterly revenue was up 15.2% on a year-over-year basis. Analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley upped their target price on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Canaccord Genuity Group restated a "buy" rating and issued a $106.00 target price on shares of DexCom in a research note on Friday, August 1st. Robert W. Baird cut their target price on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Citigroup restated a "buy" rating and issued a $102.00 target price (up previously from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, DexCom has an average rating of "Moderate Buy" and a consensus price target of $99.89.

Insider Activity

In other news, EVP Michael Jon Brown sold 10,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the transaction, the executive vice president directly owned 95,602 shares in the company, valued at $8,057,336.56. This trade represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sadie Stern sold 6,184 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the transaction, the executive vice president owned 109,621 shares of the company's stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,656 shares of company stock worth $2,412,191 in the last quarter. Company insiders own 0.32% of the company's stock.

DexCom Company Profile

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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