Freemont Management S.A. Lowers Stake in DexCom, Inc. (NASDAQ:DXCM)

Freemont Management S.A. lowered its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 55.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 100,000 shares of the medical device company’s stock after selling 124,200 shares during the period. DexCom makes up approximately 1.6% of Freemont Management S.A.’s investment portfolio, making the stock its 21st largest position. Freemont Management S.A.’s holdings in DexCom were worth $12,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DXCM. Cary Street Partners Investment Advisory LLC lifted its holdings in DexCom by 11.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock worth $108,000 after buying an additional 115 shares in the last quarter. CX Institutional acquired a new stake in DexCom during the 4th quarter worth approximately $286,000. abrdn plc lifted its holdings in DexCom by 21.1% during the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after buying an additional 66,348 shares in the last quarter. Cerity Partners LLC lifted its holdings in DexCom by 5,791.0% during the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after buying an additional 456,097 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in DexCom during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DXCM. Royal Bank of Canada began coverage on shares of DexCom in a report on Tuesday, March 12th. They set an “outperform” rating and a $165.00 target price on the stock. Raymond James raised their price objective on shares of DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a report on Friday, April 26th. Canaccord Genuity Group raised their price objective on shares of DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 26th. Citigroup raised their price objective on shares of DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, UBS Group raised their price objective on shares of DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

DexCom Stock Up 1.4 %

NASDAQ:DXCM traded up $1.77 during midday trading on Friday, hitting $127.37. 2,275,564 shares of the company were exchanged, compared to its average volume of 2,483,182. DexCom, Inc. has a fifty-two week low of $74.75 and a fifty-two week high of $142.00. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $50.65 billion, a PE ratio of 82.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.23. The company has a fifty day simple moving average of $132.96 and a 200 day simple moving average of $124.65.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The company had revenue of $921.00 million for the quarter, compared to the consensus estimate of $911.20 million. As a group, equities analysts anticipate that DexCom, Inc. will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, CEO Kevin R. Sayer sold 81,007 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 333,526 shares of the company’s stock, valued at approximately $44,479,027.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Kevin R. Sayer sold 81,007 shares of DexCom stock in a transaction dated 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 sale, the chief executive officer now owns 333,526 shares of the company’s stock, valued at $44,479,027.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sadie Stern sold 20,321 shares of DexCom stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $133.61, for a total transaction of $2,715,088.81. Following the completion of the sale, the executive vice president now directly owns 80,441 shares in the company, valued at approximately $10,747,722.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,641 shares of company stock valued at $25,217,707. Insiders own 0.30% of the company’s stock.

About DexCom

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.