Marble Harbor Investment Counsel LLC Sells 39,376 Shares of DexCom, Inc. $DXCM

Key Points

• Marble Harbor Investment Counsel cut its DexCom position by 24.2% in the fourth quarter, selling 39,376 shares and leaving it with 123,572 shares worth about $8.2 million.
• Despite the selling by one fund, institutional ownership remains very high at 97.75%, and several other investors increased their stakes in DXCM during the period.
• Wall Street remains mostly bullish on DexCom: analysts currently rate the stock a Moderate Buy, with an average price target of $82.21, while the stock recently traded around $66.95 after a 2.9% move higher.

Marble Harbor Investment Counsel LLC lowered its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,572 shares of the medical device company's stock after selling 39,376 shares during the quarter. Marble Harbor Investment Counsel LLC's holdings in DexCom were worth $8,201,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DXCM. CVA Family Office LLC raised 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 acquiring an additional 147 shares in the last quarter. ORG Partners LLC raised its position in shares of DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock worth $34,000 after acquiring an additional 281 shares in the last quarter. Spire Wealth Management raised its position in shares of DexCom by 113.8% in the 4th quarter. Spire Wealth Management now owns 573 shares of the medical device company's stock worth $38,000 after acquiring an additional 305 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of DexCom in the 4th quarter worth $43,000. Finally, Rothschild Investment LLC raised its position in shares of DexCom by 59.9% in the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company's stock worth $44,000 after acquiring an additional 245 shares in the last quarter. Institutional investors own 97.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DXCM shares. Robert W. Baird set a $80.00 price target on DexCom in a research report on Friday, May 1st. Citigroup reiterated a "buy" rating and set a $79.00 price objective (down from $84.00) on shares of DexCom in a research note on Monday, May 4th. Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of DexCom from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, February 13th. Finally, Sanford C. Bernstein set a $77.00 price objective on shares of DexCom in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $82.21.

DexCom Stock Up 2.9%

Shares of DXCM stock opened at $66.95 on Wednesday. The stock has a 50 day moving average of $63.33 and a 200 day moving average of $65.82. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock has a market cap of $25.83 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.12 and a beta of 1.40. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly 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. The company 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%.DexCom's quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. As a group, sell-side analysts expect that DexCom, Inc. will post 2.56 EPS for the current year.

DexCom News Roundup

Here are the key news stories impacting DexCom this week:

• Positive Sentiment: DexCom announced Dexcom Flex in Germany, expanding CGM access to a broader Type 2 diabetes population using basal insulin, oral medications, or GLP-1 therapies. Dexcom Announces Dexcom Flex in Germany
• Positive Sentiment: Bank of America lowered its price target to $80 from $100 but kept a buy rating, which still implies upside from current levels. Benzinga report on Bank of America price target
• Neutral Sentiment: Barclays reiterated its sell rating on DexCom, adding a bearish counterpoint that may limit enthusiasm. Barclays sticks to its sell rating
• Negative Sentiment: EVP Michael Jon Brown sold 1,700 shares in a pre-arranged Rule 10b5-1 transaction, which is routine but can still weigh on sentiment when investors are watching insider activity closely. SEC Form 4 filing

Insider Buying and Selling at DexCom

In related news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $59.91, for a total transaction of $101,847.00. Following the sale, the executive vice president owned 109,504 shares in the company, valued at approximately $6,560,384.64. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $60,730.12. Following the sale, the director owned 25,007 shares in the company, valued at approximately $1,500,670.07. This represents a 3.89% decrease in their position. 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 have sold 6,112 shares of company stock worth $379,990. 0.28% of the stock is 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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