Plato Investment Management Ltd Reduces Holdings in DexCom, Inc. (NASDAQ:DXCM)

Plato Investment Management Ltd lowered its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,405 shares of the medical device company’s stock after selling 358 shares during the period. Plato Investment Management Ltd’s holdings in DexCom were worth $1,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DXCM. Team Hewins LLC increased its position in DexCom by 3.4% during the first quarter. Team Hewins LLC now owns 2,555 shares of the medical device company’s stock worth $354,000 after buying an additional 83 shares during the period. Bleakley Financial Group LLC raised its position in DexCom by 1.3% in the 1st quarter. Bleakley Financial Group LLC now owns 6,856 shares of the medical device company’s stock valued at $951,000 after purchasing an additional 87 shares during the last quarter. Capital Insight Partners LLC boosted its stake in DexCom by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock worth $418,000 after purchasing an additional 90 shares during the period. Gulf International Bank UK Ltd boosted its stake in DexCom by 0.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 32,075 shares of the medical device company’s stock worth $4,448,000 after purchasing an additional 93 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in DexCom by 10.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,071 shares of the medical device company’s stock worth $133,000 after purchasing an additional 98 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DXCM has been the subject of a number of research reports. Redburn Atlantic initiated coverage on shares of DexCom in a research note on Thursday, May 30th. They set a “neutral” rating and a $130.00 target price for the company. Barclays lowered their target price on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Royal Bank of Canada dropped their target price on DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Robert W. Baird boosted their price objective on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.25.

DexCom Stock Performance

NASDAQ DXCM opened at $69.51 on Monday. The business has a 50 day moving average price of $82.36 and a 200 day moving average price of $111.23. The company has a market capitalization of $27.64 billion, a P/E ratio of 44.85, a PEG ratio of 2.12 and a beta of 1.18. 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.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. Sell-side analysts expect that DexCom, Inc. will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

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

DexCom Company 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.