Granite Investment Partners LLC Sells 1,805 Shares of DexCom, Inc. (NASDAQ:DXCM)

Granite Investment Partners LLC trimmed its position in DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,693 shares of the medical device company’s stock after selling 1,805 shares during the period. Granite Investment Partners LLC’s holdings in DexCom were worth $11,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centaurus Financial Inc. raised its holdings in shares of DexCom by 5.5% during the first quarter. Centaurus Financial Inc. now owns 1,236 shares of the medical device company’s stock worth $632,000 after purchasing an additional 64 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in DexCom by 9.8% in the fourth quarter. First Horizon Advisors Inc. now owns 960 shares of the medical device company’s stock valued at $109,000 after buying an additional 86 shares in the last quarter. Fulton Bank N.A. increased its holdings in DexCom by 3.7% in the fourth quarter. Fulton Bank N.A. now owns 2,674 shares of the medical device company’s stock valued at $303,000 after buying an additional 95 shares in the last quarter. RMR Wealth Builders increased its holdings in DexCom by 1.8% in the third quarter. RMR Wealth Builders now owns 5,442 shares of the medical device company’s stock valued at $438,000 after buying an additional 98 shares in the last quarter. Finally, Ascent Group LLC increased its holdings in DexCom by 2.1% in the third quarter. Ascent Group LLC now owns 4,778 shares of the medical device company’s stock valued at $577,000 after buying an additional 98 shares in the last quarter. 94.01% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Kevin R. Sayer sold 38,464 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $109.94, for a total value of $4,228,732.16. Following the completion of the transaction, the chief executive officer now owns 331,337 shares in the company, valued at approximately $36,427,189.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DexCom news, CEO Kevin R. Sayer sold 38,464 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $109.94, for a total transaction of $4,228,732.16. Following the completion of the transaction, the chief executive officer now directly owns 331,337 shares in the company, valued at approximately $36,427,189.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Robert Pacelli sold 5,442 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $116.40, for a total transaction of $633,448.80. Following the transaction, the director now owns 138,129 shares of the company’s stock, valued at $16,078,215.60. The disclosure for this sale can be found here. Insiders sold 141,835 shares of company stock worth $16,443,758 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of DexCom from $130.00 to $140.00 in a report on Friday, April 28th. Cowen boosted their price target on shares of DexCom from $114.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, February 10th. Raymond James boosted their price target on shares of DexCom from $138.00 to $140.00 in a research note on Friday, April 28th. UBS Group boosted their price target on shares of DexCom from $142.00 to $150.00 in a research note on Friday, April 28th. Finally, Barclays boosted their price target on shares of DexCom from $110.00 to $115.00 in a research note on Monday, May 1st. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, DexCom currently has an average rating of “Moderate Buy” and an average target price of $126.81.

DexCom Stock Performance

Shares of DXCM stock traded down $0.18 during mid-day trading on Friday, hitting $114.43. The stock had a trading volume of 377,871 shares, compared to its average volume of 2,325,712. DexCom, Inc. has a fifty-two week low of $67.11 and a fifty-two week high of $126.44. The firm has a market cap of $44.36 billion, a PE ratio of 163.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.02 and a quick ratio of 1.82. The company’s 50-day simple moving average is $117.86 and its 200-day simple moving average is $114.51.

DexCom (NASDAQ:DXCM – Get Rating) last released its earnings results on Thursday, April 27th. The medical device company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $720.52 million. DexCom had a net margin of 9.68% and a return on equity of 18.29%. The business’s revenue was up 1085.0% on a year-over-year basis. During the same quarter last year, the business earned $0.08 EPS. Sell-side analysts anticipate that DexCom, Inc. will post 1.06 earnings per share for the current year.

About DexCom

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DexCom, Inc is a medical device manufacturing company, which engages in the design, development and commercialization of glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G6 CGM System, DexCom G6 CGM System for Medicare, Software and Mobile apps. The company was founded by John F.