LRI Investments LLC Takes $361,000 Position in DexCom, Inc. (NASDAQ:DXCM)

LRI Investments LLC acquired a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,601 shares of the medical device company’s stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DXCM. Capital World Investors boosted its position in shares of DexCom by 130.7% during the 4th quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after purchasing an additional 5,256,092 shares in the last quarter. Norges Bank bought a new position in DexCom in the 4th quarter valued at about $540,178,000. Artisan Partners Limited Partnership lifted its position in DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after acquiring an additional 3,672,471 shares in the last quarter. Capital Research Global Investors lifted its position in DexCom by 21.4% in the 4th 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 acquiring an additional 2,695,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in DexCom in the 4th quarter valued at about $231,773,000. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

Shares of DXCM stock traded down $43.85 during trading hours on Friday, hitting $64.00. 53,914,127 shares of the company were exchanged, compared to its average volume of 2,657,874. The firm has a fifty day simple moving average of $115.28 and a 200 day simple moving average of $123.79. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 41.29, a P/E/G ratio of 2.64 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 32.27%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.34 EPS. DexCom’s quarterly revenue was up 15.3% compared to the same quarter last year. Research analysts predict that DexCom, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sadie Stern sold 427 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the completion of the transaction, the executive vice president now directly owns 75,877 shares of the company’s stock, valued at $8,729,648.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,112 shares of company stock worth $480,861. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

DXCM has been the topic of several recent research reports. Piper Sandler dropped their price target on shares of DexCom from $150.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price target on shares of DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus dropped their price target on shares of DexCom from $132.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Redburn Atlantic began coverage on shares of DexCom in a research report on Thursday, May 30th. They issued a “neutral” rating and a $130.00 price target on the stock. Finally, Royal Bank of Canada dropped their target price on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday. Seven 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.06.

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.