DexCom, Inc. (NASDAQ:DXCM) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its stake in DexCom, Inc. (NASDAQ:DXCM) by 39.3% in the first quarter, Holdings Channel reports. The fund owned 40,795 shares of the medical device company’s stock after selling 26,461 shares during the period. Granite Investment Partners LLC’s holdings in DexCom were worth $4,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Laurel Wealth Advisors LLC bought a new stake in shares of DexCom during the fourth quarter worth approximately $26,000. Private Ocean LLC bought a new stake in DexCom in the first quarter valued at approximately $36,000. Bremer Bank National Association bought a new stake in DexCom in the first quarter valued at approximately $42,000. Canton Hathaway LLC bought a new stake in DexCom in the first quarter valued at approximately $41,000. Finally, Bremer Trust National Association bought a new stake in DexCom in the fourth quarter valued at approximately $49,000. 96.50% of the stock is owned by institutional investors.

Several equities research analysts have commented on DXCM shares. Morgan Stanley upped their target price on shares of DexCom from $135.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, February 25th. UBS Group reduced their price target on shares of DexCom from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Cowen upped their price target on shares of DexCom from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, February 22nd. Canaccord Genuity upped their price target on shares of DexCom from $140.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 22nd. Finally, BMO Capital Markets upped their price target on shares of DexCom from $167.00 to $172.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $150.65.

In other news, Director Mark G. Foletta sold 1,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $150.28, for a total value of $150,280.00. Following the transaction, the director now directly owns 4,052 shares of the company’s stock, valued at $608,934.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew K. Balo sold 7,825 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $125.00, for a total transaction of $978,125.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,834 shares of company stock valued at $6,917,335. Corporate insiders own 0.88% of the company’s stock.

DXCM stock traded up $0.88 during trading hours on Tuesday, reaching $139.32. The stock had a trading volume of 15,831 shares, compared to its average volume of 977,153. The stock has a market cap of $12.58 billion, a P/E ratio of 463.13 and a beta of 0.70. The company has a debt-to-equity ratio of 1.57, a current ratio of 7.18 and a quick ratio of 6.75. DexCom, Inc. has a fifty-two week low of $90.61 and a fifty-two week high of $156.16.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Wednesday, May 1st. The medical device company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.12. The firm had revenue of $280.50 million during the quarter, compared to analysts’ expectations of $246.10 million. DexCom had a negative net margin of 11.51% and a positive return on equity of 8.45%. The company’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) earnings per share. As a group, equities research analysts anticipate that DexCom, Inc. will post 0.81 EPS for the current fiscal year.

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DexCom 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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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