King Luther Capital Management Corp Sells 31,529 Shares of DexCom, Inc. $DXCM

Key Points

• King Luther Capital Management cut its DexCom position by 13.6% in the fourth quarter, selling 31,529 shares and leaving the fund with 201,054 shares valued at about $13.3 million.
• Recent analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $82.21, though some firms trimmed targets or maintained bearish views.
• DexCom reported better-than-expected quarterly results, posting EPS of $0.56 on revenue of $1.19 billion, both above estimates, while revenue rose 15% year over year.

King Luther Capital Management Corp decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 201,054 shares of the medical device company's stock after selling 31,529 shares during the quarter. King Luther Capital Management Corp owned about 0.05% of DexCom worth $13,344,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Employees Retirement System of Texas bought a new stake in shares of DexCom in the 4th quarter valued at $37,871,000. Allstate Corp grew its position in DexCom by 102.2% in the 4th quarter. Allstate Corp now owns 28,962 shares of the medical device company's stock valued at $1,922,000 after purchasing an additional 14,639 shares during the period. Sectoral Asset Management Inc. grew its position in DexCom by 38.6% in the 4th quarter. Sectoral Asset Management Inc. now owns 28,700 shares of the medical device company's stock valued at $1,905,000 after purchasing an additional 8,000 shares during the period. Clearstead Advisors LLC grew its position in DexCom by 143.9% in the 4th quarter. Clearstead Advisors LLC now owns 4,497 shares of the medical device company's stock valued at $298,000 after purchasing an additional 2,653 shares during the period. Finally, Intermede Investment Partners Ltd acquired a new stake in DexCom in the 4th quarter valued at $60,351,000. Institutional investors own 97.75% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DXCM shares. Robert W. Baird set a $80.00 price target on shares of DexCom in a research report on Friday, May 1st. TD Cowen reduced their price target on shares of DexCom from $84.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the company a "buy" rating in a research report on Monday, May 18th. Barclays reissued an "underweight" rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Finally, Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Three 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $82.21.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president directly 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 transaction was disclosed in a legal 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, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the sale, the director owned 25,007 shares in the company, valued at $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,871 shares of company stock valued at $2,306,638 in the last three months. 0.28% of the stock is currently owned by insiders.

DexCom Price Performance

DXCM opened at $70.26 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 1.19 and a beta of 1.40. The firm's fifty day moving average price is $63.95 and its two-hundred day moving average price is $66.27. 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 posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share (EPS) 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 business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. As a group, analysts anticipate that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

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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