Gradient Investments LLC Raises Stake in DexCom, Inc. (NASDAQ:DXCM)

Gradient Investments LLC grew its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 10.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 281,325 shares of the medical device company's stock after purchasing an additional 26,782 shares during the period. Gradient Investments LLC owned about 0.07% of DexCom worth $19,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Private Trust Co. NA raised its holdings in DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock valued at $26,000 after buying an additional 245 shares during the last quarter. Optiver Holding B.V. bought a new position in DexCom in the 4th quarter valued at approximately $33,000. TD Private Client Wealth LLC raised its holdings in DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock valued at $34,000 after buying an additional 167 shares during the last quarter. Larson Financial Group LLC raised its holdings in DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after buying an additional 137 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in DexCom in the 4th quarter valued at approximately $38,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Up 0.6%

DXCM stock traded up $0.52 during midday trading on Thursday, reaching $86.13. 724,983 shares of the company's stock traded hands, compared to its average volume of 4,015,025. The company has a market cap of $33.77 billion, a price-to-earnings ratio of 60.23, a P/E/G ratio of 2.30 and a beta of 1.43. The firm's fifty day moving average price is $75.64 and its 200-day moving average price is $78.89. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $118.80.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company reiterated an "overweight" rating on shares of DexCom in a report on Saturday, March 8th. Barclays raised their price objective on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. The Goldman Sachs Group began coverage on shares of DexCom in a report on Friday, May 30th. They set a "buy" rating and a $104.00 price target for the company. Citigroup restated a "buy" rating and set a $102.00 price target (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Finally, Mizuho began coverage on shares of DexCom in a report on Thursday, April 10th. They set an "outperform" rating and a $85.00 price target for the company. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, DexCom presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.32.

Insider Buying and Selling at DexCom

In other DexCom news, COO Jacob Steven Leach sold 14,076 shares of DexCom stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $990,668.88. Following the transaction, the chief operating officer now directly owns 313,497 shares of the company's stock, valued at $22,063,918.86. The trade was a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sadie Stern sold 6,184 shares of DexCom stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction of $526,320.24. Following the transaction, the executive vice president now directly owns 109,621 shares in the company, valued at $9,329,843.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,110 shares of company stock worth $6,103,505. 0.32% of the stock is owned by corporate 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.