Cornerstone Advisors LLC Cuts Position in DexCom, Inc. (NASDAQ:DXCM)

Cornerstone Advisors LLC cut its position in DexCom, Inc. (NASDAQ:DXCM) by 5.8% in the second quarter, HoldingsChannel.com reports. The firm owned 21,200 shares of the medical device company’s stock after selling 1,300 shares during the period. Cornerstone Advisors LLC’s holdings in DexCom were worth $2,404,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DXCM. Vanguard Group Inc. lifted its holdings in shares of DexCom by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after purchasing an additional 136,282 shares during the last quarter. Capital Research Global Investors raised its stake in DexCom by 21.4% in the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock valued at $1,898,085,000 after buying an additional 2,695,296 shares during the last quarter. Sands Capital Management LLC boosted its holdings in DexCom by 10.2% in the fourth quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock worth $1,868,647,000 after acquiring an additional 1,398,136 shares in the last quarter. Capital World Investors boosted its holdings in DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after acquiring an additional 5,256,092 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of DexCom by 164.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after acquiring an additional 3,672,471 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

NASDAQ:DXCM opened at $70.09 on Tuesday. The company’s 50-day moving average is $81.54 and its two-hundred day moving average is $110.92. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 45.22, a PEG ratio of 2.12 and a beta of 1.18.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. DexCom’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. Analysts forecast that DexCom, Inc. will post 1.69 EPS for the current year.

Insider Activity at DexCom

In other DexCom news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the sale, the executive vice president now owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at $18,318,872.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,483 shares of company stock worth $201,708. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DXCM. Piper Sandler restated an “overweight” rating and issued a $90.00 target price on shares of DexCom in a research note on Monday, August 26th. Baird R W downgraded shares of DexCom from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Redburn Atlantic began coverage on DexCom in a report on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price on the stock. Morgan Stanley cut their target price on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Finally, Royal Bank of Canada cut their price target on DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.25.

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 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.