Peregrine Capital Management LLC Sells 41,279 Shares of DexCom, Inc. $DXCM

Key Points

• Peregrine Capital Management reduced its DexCom stake by 6.3% in the first quarter, selling 41,279 shares and ending with 616,540 shares valued at about $38.7 million.
• DexCom recently beat earnings expectations, reporting $0.56 EPS versus $0.47 expected and $1.19 billion in revenue, with revenue up 15% year over year.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average price target of $84.88, while insiders have also sold shares in recent months.

Peregrine Capital Management LLC cut its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 616,540 shares of the medical device company's stock after selling 41,279 shares during the period. DexCom comprises approximately 1.4% of Peregrine Capital Management LLC's portfolio, making the stock its 14th largest position. Peregrine Capital Management LLC owned about 0.16% of DexCom worth $38,719,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Gradient Investments LLC raised its holdings in shares of DexCom by 13.8% during the 4th quarter. Gradient Investments LLC now owns 332,006 shares of the medical device company's stock valued at $22,035,000 after buying an additional 40,343 shares in the last quarter. Nordea Investment Management AB boosted its stake in DexCom by 118.6% in the fourth quarter. Nordea Investment Management AB now owns 254,315 shares of the medical device company's stock worth $16,988,000 after buying an additional 137,986 shares in the last quarter. Banque Pictet & Cie SA grew its position in DexCom by 58.2% during the fourth quarter. Banque Pictet & Cie SA now owns 109,823 shares of the medical device company's stock valued at $7,289,000 after acquiring an additional 40,411 shares during the last quarter. Holocene Advisors LP bought a new position in DexCom during the third quarter valued at approximately $163,964,000. Finally, Aberdeen Group plc grew its position in DexCom by 9.0% during the fourth quarter. Aberdeen Group plc now owns 530,363 shares of the medical device company's stock valued at $35,200,000 after acquiring an additional 43,990 shares during the last quarter. Institutional investors own 97.75% of the company's stock.

DexCom Stock Performance

NASDAQ:DXCM opened at $67.35 on Wednesday. The firm has a market cap of $25.99 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 1.15 and a beta of 1.45. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The business has a 50 day moving average price of $67.89 and a 200-day moving average price of $68.12.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company 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 firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities research analysts predict that DexCom, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DXCM. Mizuho set a $85.00 price objective on shares of DexCom and gave the stock an "outperform" rating in a report on Tuesday, June 9th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $91.00 target price on shares of DexCom in a report on Monday, June 8th. Citigroup reiterated a "buy" rating and issued a $84.00 target price (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Wall Street Zen downgraded shares of DexCom from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, DexCom currently has a consensus rating of "Moderate Buy" and an average price target of $84.88.

Insider Transactions at DexCom

In other news, Director Mark G. Foletta sold 4,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the transaction, the director directly owned 52,852 shares of the company's stock, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total value of $60,730.12. Following the completion of the sale, the director directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 46,694 shares of company stock valued at $3,343,977. Company insiders own 0.28% of the company's stock.

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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