Greenup Street Wealth Management LLC Trims Stake in DexCom, Inc. $DXCM

Key Points

• Greenup Street Wealth Management cut its DexCom stake by 50.2% in the first quarter, selling 17,075 shares and ending with 16,968 shares valued at about $1.07 million.
• Insiders have also been selling recently, including directors Bridgette P. Heller and Mark G. Foletta; over the last 90 days, insiders sold 46,694 shares worth about $3.34 million.
• DexCom’s latest results were solid, with Q1 earnings of $0.56 per share topping estimates and revenue rising 15% year over year to $1.19 billion. Analysts remain generally bullish, with a consensus Moderate Buy rating and an average price target of $84.88.

Greenup Street Wealth Management LLC lessened its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 50.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,968 shares of the medical device company's stock after selling 17,075 shares during the period. Greenup Street Wealth Management LLC's holdings in DexCom were worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of DXCM. Geode Capital Management LLC raised its holdings in DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock valued at $727,842,000 after buying an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in DexCom by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company's stock worth $530,897,000 after buying an additional 516,526 shares during the period. Norges Bank acquired a new stake in shares of DexCom during the fourth quarter valued at about $483,356,000. Invesco Ltd. increased its position in shares of DexCom by 14.8% during the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock valued at $352,781,000 after acquiring an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of DexCom by 7.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock valued at $207,613,000 after acquiring an additional 220,313 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Bridgette P. Heller sold 1,012 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the sale, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction on Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the sale, the director directly owned 52,852 shares of the company's stock, valued at approximately $3,917,918.76. This trade represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 46,694 shares of company stock worth $3,343,977. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DXCM. BTIG Research restated a "buy" rating and issued a $85.00 price objective on shares of DexCom in a report on Monday, March 9th. UBS Group set a $95.00 price target on DexCom in a research note on Wednesday, June 10th. Bank of America lowered their price target on DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Sanford C. Bernstein set a $77.00 price objective on DexCom in a research note on Friday, May 1st. Finally, Canaccord Genuity Group set a $82.00 price objective on DexCom and gave the company a "buy" rating in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DexCom has an average rating of "Moderate Buy" and an average target price of $84.88.

DexCom Stock Performance

Shares of DexCom stock opened at $69.73 on Thursday. The business has a 50-day simple moving average of $67.36 and a 200-day simple moving average of $68.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The company has a market cap of $26.91 billion, a PE ratio of 29.80, a P/E/G ratio of 1.08 and a beta of 1.45.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm's revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that DexCom, Inc. will post 2.58 EPS for the current fiscal year.

About DexCom

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.