Handelsbanken Fonder AB Sells 230,974 Shares of DexCom, Inc. $DXCM

Key Points

• Handelsbanken Fonder AB cut its DexCom stake by 41.9% in the fourth quarter, selling 230,974 shares and leaving it with 320,124 shares worth about $21.25 million.
• Several other institutional investors adjusted positions in DXCM, while 97.75% of the stock is owned by hedge funds and other institutions.
• DexCom reported strong quarterly results, beating estimates with EPS of $0.56 and revenue of $1.19 billion, and the stock was trading higher amid a moderate buy analyst consensus and an average price target of $82.21.

Handelsbanken Fonder AB reduced its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 41.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,124 shares of the medical device company's stock after selling 230,974 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.08% of DexCom worth $21,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DXCM. CVA Family Office LLC increased its position in DexCom by 48.5% during the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after purchasing an additional 147 shares during the period. ORG Partners LLC increased its position in DexCom by 124.3% during the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after purchasing an additional 281 shares during the period. Spire Wealth Management increased its position in DexCom by 113.8% during the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock valued at $38,000 after purchasing an additional 305 shares during the period. Aventura Private Wealth LLC purchased a new position in DexCom during the 4th quarter valued at $43,000. Finally, Rothschild Investment LLC increased its position in DexCom by 59.9% during the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company's stock valued at $44,000 after purchasing an additional 245 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In other news, Director Bridgette P. Heller sold 1,012 shares of the company'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 sale, the director directly owned 25,007 shares of the company's stock, valued at $1,500,670.07. This represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $59.91, for a total transaction of $101,847.00. Following the completion of the sale, the executive vice president directly owned 109,504 shares in the company, valued at $6,560,384.64. This represents a 1.53% decrease in their ownership of the stock. 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 6,112 shares of company stock worth $379,990 over the last ninety days. Insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, February 13th. Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Barclays reissued an "underweight" rating and set a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday. Mizuho set a $75.00 price objective on shares of DexCom in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.21.

DexCom Stock Up 6.7%

NASDAQ:DXCM opened at $71.44 on Thursday. The firm's 50-day moving average price is $63.38 and its 200-day moving average price is $65.84. The company has a market capitalization of $27.57 billion, a PE ratio of 30.53, a P/E/G ratio of 1.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company's revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. On average, equities analysts predict that DexCom, Inc. will post 2.57 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.

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