Kornitzer Capital Management Inc. KS Makes New Investment in DexCom, Inc. (NASDAQ:DXCM)

Kornitzer Capital Management Inc. KS acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 80,275 shares of the medical device company's stock, valued at approximately $9,961,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its position in DexCom by 31.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,999 shares of the medical device company's stock worth $138,643,000 after purchasing an additional 65,516 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in DexCom by 3,596.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,109 shares of the medical device company's stock worth $567,000 after purchasing an additional 1,079 shares during the period. West Family Investments Inc. purchased a new position in DexCom in the 1st quarter worth $209,000. Ergoteles LLC raised its position in DexCom by 60.6% in the 1st quarter. Ergoteles LLC now owns 1,681 shares of the medical device company's stock worth $860,000 after purchasing an additional 634 shares during the period. Finally, Mackenzie Financial Corp raised its position in DexCom by 26.4% in the 1st quarter. Mackenzie Financial Corp now owns 29,516 shares of the medical device company's stock worth $15,100,000 after purchasing an additional 6,160 shares during the period. 97.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DXCM shares. Citigroup lifted their target price on shares of DexCom from $148.00 to $161.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. UBS Group boosted their price objective on shares of DexCom from $153.00 to $163.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. Royal Bank of Canada began coverage on shares of DexCom in a research report on Tuesday, March 12th. They issued an "outperform" rating and a $165.00 price objective on the stock. Raymond James boosted their price objective on shares of DexCom from $147.00 to $151.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 23rd. Finally, StockNews.com upgraded shares of DexCom from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.40.

Insider Buying and Selling

In related news, CEO Kevin R. Sayer sold 81,007 shares of the business's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $133.36, for a total transaction of $10,803,093.52. Following the sale, the chief executive officer now owns 333,526 shares of the company's stock, valued at $44,479,027.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Kevin R. Sayer sold 81,007 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $133.36, for a total value of $10,803,093.52. Following the transaction, the chief executive officer now owns 333,526 shares in the company, valued at $44,479,027.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jereme M. Sylvain sold 3,363 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total transaction of $392,562.99. Following the completion of the transaction, the chief financial officer now owns 71,142 shares in the company, valued at approximately $8,304,405.66. The disclosure for this sale can be found here. Insiders have sold 189,375 shares of company stock valued at $25,530,859 over the last quarter. Corporate insiders own 0.41% of the company's stock.

DexCom Trading Down 2.7 %

Shares of NASDAQ DXCM traded down $3.59 during midday trading on Friday, hitting $130.71. 2,859,646 shares of the company traded hands, compared to its average volume of 2,337,474. DexCom, Inc. has a 12-month low of $74.75 and a 12-month high of $142.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84. The stock has a 50-day moving average price of $129.55 and a 200 day moving average price of $116.84. The firm has a market cap of $50.39 billion, a P/E ratio of 99.78, a P/E/G ratio of 2.31 and a beta of 1.20.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The medical device company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.43 by $0.07. DexCom had a net margin of 14.95% and a return on equity of 28.31%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. DexCom's quarterly revenue was up 26.9% on a year-over-year basis. As a group, analysts expect that DexCom, Inc. will post 1.76 earnings per share for the current 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.