Moran Wealth Management LLC Has $1.88 Million Position in DexCom, Inc. $DXCM

Key Points

• Moran Wealth Management sharply cut its DexCom stake by 84.5% in the first quarter, selling 164,029 shares and ending with 29,976 shares valued at about $1.88 million.
• Insiders have also been selling DXCM shares recently, including EVP Jon Coleman and Director Bridgette P. Heller, with total insider sales of 46,694 shares worth about $3.34 million over the last 90 days.
• DexCom reported better-than-expected quarterly results, posting EPS of $0.56 on revenue of $1.19 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $84.88.

Moran Wealth Management LLC lessened its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 84.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,976 shares of the medical device company's stock after selling 164,029 shares during the period. Moran Wealth Management LLC's holdings in DexCom were worth $1,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DXCM. Reflection Asset Management bought a new stake in DexCom during the fourth quarter worth about $25,000. CVA Family Office LLC grew its stake in DexCom by 48.5% during the fourth quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock worth $30,000 after buying an additional 147 shares in the last quarter. MCF Advisors LLC bought a new position in DexCom in the 4th quarter valued at about $32,000. ORG Partners LLC increased its holdings in DexCom by 124.3% in the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock valued at $34,000 after buying an additional 281 shares during the period. Finally, DV Equities LLC acquired a new position in shares of DexCom in the 4th quarter valued at approximately $36,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jon Coleman sold 4,912 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares in the company, valued at approximately $7,326,353. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 the 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 completion of the transaction, the director owned 25,007 shares of the company's stock, 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 46,694 shares of company stock worth $3,343,977 over the last 90 days. Insiders own 0.28% of the company's stock.

DexCom Price Performance

DXCM stock opened at $71.25 on Monday. The firm has a 50-day moving average price of $68.31 and a 200-day moving average price of $68.19. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $89.98. 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 capitalization of $27.49 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.45.

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 (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm's revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird set a $80.00 price target on shares of DexCom in a report on Friday, May 1st. Bank of America decreased their price objective on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Mizuho set a $85.00 price objective on shares of DexCom and gave the company an "outperform" rating in a research report on Tuesday, June 9th. Sanford C. Bernstein set a $77.00 target price on DexCom in a research note on Friday, May 1st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $91.00 target price on shares of DexCom in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.88.

DexCom 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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