Riverstone Advisors LLC Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Riverstone Advisors LLC cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 34.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,844 shares of the medical device company's stock after selling 5,721 shares during the quarter. DexCom makes up approximately 0.4% of Riverstone Advisors LLC's portfolio, making the stock its 26th biggest position. Riverstone Advisors LLC's holdings in DexCom were worth $741,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its position in shares of DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock worth $37,000 after acquiring an additional 137 shares in the last quarter. Nia Impact Advisors LLC lifted its stake in DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock worth $766,000 after purchasing an additional 140 shares during the last quarter. Level Four Advisory Services LLC boosted its holdings in DexCom by 1.1% in the fourth quarter. Level Four Advisory Services LLC now owns 13,196 shares of the medical device company's stock valued at $1,026,000 after purchasing an additional 150 shares in the last quarter. Covestor Ltd increased its stake in DexCom by 15.6% in the fourth quarter. Covestor Ltd now owns 1,109 shares of the medical device company's stock valued at $86,000 after purchasing an additional 150 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after purchasing an additional 167 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DXCM shares. Cfra Research raised shares of DexCom to a "hold" rating in a research report on Friday, March 21st. Barclays boosted their target price on DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Truist Financial began coverage on DexCom in a research report on Monday, June 16th. They issued a "buy" rating and a $102.00 target price for the company. Citigroup reaffirmed a "buy" rating and set a $102.00 price target (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Finally, Wall Street Zen cut DexCom from a "buy" rating to a "hold" rating in a research note on Sunday. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.50.

DexCom Price Performance

DexCom stock remained flat at $83.58 during mid-day trading on Wednesday. 2,867,027 shares of the company's stock were exchanged, compared to its average volume of 4,399,008. The business's 50-day simple moving average is $82.47 and its 200-day simple moving average is $79.69. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $117.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.50 and a quick ratio of 1.32. The company has a market cap of $32.77 billion, a P/E ratio of 62.37, a P/E/G ratio of 1.78 and a beta of 1.44.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The business's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total value of $228,607.50. Following the sale, the director directly owned 56,621 shares of the company's stock, valued at approximately $4,706,903.73. This represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Jon Brown sold 10,000 shares of DexCom stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $84.28, for a total transaction of $842,800.00. Following the transaction, the executive vice president owned 95,602 shares of the company's stock, valued at approximately $8,057,336.56. The trade was a 9.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,190 shares of company stock worth $2,281,732. Corporate insiders own 0.32% of the company's stock.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.