DexCom, Inc. (NASDAQ:DXCM) Stake Lowered by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 22.2% in the 1st quarter, Holdings Channel reports. The firm owned 12,565 shares of the medical device company’s stock after selling 3,594 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in DexCom were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its holdings in DexCom by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 45,740 shares of the medical device company’s stock worth $3,123,000 after buying an additional 1,205 shares in the last quarter. PKO Investment Management Joint Stock Co grew its holdings in DexCom by 89.6% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 91,000 shares of the medical device company’s stock worth $6,214,000 after buying an additional 43,000 shares in the last quarter. Cardinal Capital Management grew its holdings in DexCom by 2.4% in the 1st quarter. Cardinal Capital Management now owns 45,569 shares of the medical device company’s stock worth $3,112,000 after buying an additional 1,086 shares in the last quarter. Chicago Capital LLC grew its holdings in DexCom by 75.0% in the 1st quarter. Chicago Capital LLC now owns 885,532 shares of the medical device company’s stock worth $60,473,000 after buying an additional 379,586 shares in the last quarter. Finally, Inscription Capital LLC bought a new position in DexCom in the 1st quarter worth approximately $137,000. 97.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Cfra Research raised DexCom to a “hold” rating in a report on Friday, March 21st. Wall Street Zen upgraded DexCom from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Robert W. Baird cut their target price on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group started coverage on DexCom in a research report on Friday, May 30th. They issued a “buy” rating and a $104.00 target price for the company. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Insider Activity

In other news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $83.13, for a total value of $228,607.50. Following the completion of the sale, the director now owns 56,621 shares in the company, valued at $4,706,903.73. This represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Jon Brown sold 500 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $41,400.00. Following the completion of the sale, the executive vice president now owns 95,102 shares of the company’s stock, valued at $7,874,445.60. The trade was a 0.52% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,724 shares of company stock worth $2,157,034. Insiders own 0.32% of the company’s stock.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $84.68 on Thursday. DexCom, Inc. has a one year low of $57.52 and a one year high of $117.19. The stock has a fifty day moving average of $81.02 and a 200-day moving average of $79.50. The company has a market capitalization of $33.20 billion, a PE ratio of 63.19, a price-to-earnings-growth ratio of 1.87 and a beta of 1.46. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). DexCom had a net margin of 12.90% and a return on equity of 30.05%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted $0.32 EPS. DexCom’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.