Fisher Asset Management LLC Cuts Position in DexCom, Inc. $DXCM

Key Points

• Fisher Asset Management reduced its DexCom stake by 12.6% in the fourth quarter, selling 33,151 shares and leaving it with 230,413 shares valued at about $15.3 million.
• Despite some recent selling by insiders, institutional ownership remains very high at 97.75% of DexCom’s shares, and several other funds increased their positions during the period.
• DexCom’s latest earnings topped expectations, with EPS of $0.56 versus $0.47 expected and revenue of $1.19 billion, while analysts still rate the stock a Moderate Buy with an average price target of $82.21.

Fisher Asset Management LLC cut its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,413 shares of the medical device company's stock after selling 33,151 shares during the quarter. Fisher Asset Management LLC owned about 0.06% of DexCom worth $15,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Trust Co. of Vermont boosted its position in shares of DexCom by 14.8% in the 4th quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company's stock worth $74,000 after purchasing an additional 145 shares in the last quarter. CVA Family Office LLC boosted its position in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock worth $30,000 after purchasing an additional 147 shares in the last quarter. IFP Advisors Inc boosted its position in shares of DexCom by 24.7% in the 3rd quarter. IFP Advisors Inc now owns 900 shares of the medical device company's stock worth $61,000 after purchasing an additional 178 shares in the last quarter. Personal CFO Solutions LLC boosted its position in shares of DexCom by 5.0% in the 3rd quarter. Personal CFO Solutions LLC now owns 3,864 shares of the medical device company's stock worth $260,000 after purchasing an additional 185 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock worth $227,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Canaccord Genuity Group set a $82.00 price objective on DexCom and gave the stock a "buy" rating in a research report on Monday, May 18th. Benchmark assumed coverage on DexCom in a research report on Monday, May 11th. They issued a "buy" rating and a $77.00 price objective for the company. Wall Street Zen cut DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research report on Friday, May 1st. Finally, Citigroup reissued a "buy" rating and issued a $79.00 price objective (down from $84.00) on shares of DexCom in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $82.21.

DexCom Stock Performance

Shares of DXCM stock opened at $70.26 on Thursday. The stock has a market cap of $27.11 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The business has a 50-day simple moving average of $63.95 and a 200-day simple moving average of $66.27. 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, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, equities analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Insider Activity

In other news, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total value of $107,168.00. Following the completion of the transaction, the executive vice president owned 111,204 shares of the company's stock, valued at $7,010,300.16. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the transaction, the director directly owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,871 shares of company stock valued at $2,306,638 in the last quarter. 0.28% of the stock is currently owned by company insiders.

DexCom Company Profile

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.

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