Waverly Advisors LLC Takes Position in DexCom, Inc. (NASDAQ:DXCM)

Waverly Advisors LLC acquired a new stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,320 shares of the medical device company's stock, valued at approximately $258,000.

A number of other hedge funds also recently bought and sold shares of DXCM. Norges Bank purchased a new stake in DexCom during the fourth quarter valued at $385,367,000. Congress Asset Management Co. increased its position in DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock valued at $105,529,000 after acquiring an additional 1,332,522 shares during the last quarter. Fisher Funds Management LTD purchased a new stake in DexCom during the fourth quarter valued at $96,507,000. Woodline Partners LP purchased a new stake in DexCom during the fourth quarter valued at $63,338,000. Finally, Northern Trust Corp grew its holdings in DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after purchasing an additional 753,857 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on DXCM shares. Robert W. Baird reduced their price target on DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Mizuho started coverage on DexCom in a research report on Thursday, April 10th. They issued an "outperform" rating and a $85.00 price target for the company. Canaccord Genuity Group upped their price target on DexCom from $103.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Piper Sandler reduced their price target on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Cfra Research upgraded DexCom to a "hold" rating in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.32.

Insider Activity at DexCom

In related news, EVP Sadie Stern sold 6,184 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the transaction, the executive vice president now directly owns 109,621 shares of the company's stock, valued at approximately $9,329,843.31. This represents a 5.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jereme M. Sylvain sold 7,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $73.83, for a total value of $516,810.00. Following the transaction, the executive vice president now directly owns 135,482 shares of the company's stock, valued at approximately $10,002,636.06. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,110 shares of company stock valued at $6,103,505. Insiders own 0.32% of the company's stock.

DexCom Price Performance

Shares of NASDAQ DXCM traded up $1.10 during mid-day trading on Friday, reaching $85.96. The company's stock had a trading volume of 4,257,051 shares, compared to its average volume of 4,363,381. The firm has a market capitalization of $33.71 billion, a PE ratio of 60.11, a P/E/G ratio of 2.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The stock has a fifty day moving average of $74.67 and a two-hundred day moving average of $78.69. DexCom, Inc. has a 52 week low of $57.52 and a 52 week high of $120.48.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). DexCom had a net margin of 14.29% and a return on equity of 30.14%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company posted $0.32 earnings per share. DexCom's quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.