Proficio Capital Partners LLC Makes New $5.81 Million Investment in DexCom, Inc. (NASDAQ:DXCM)

Proficio Capital Partners LLC bought a new position in DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, HoldingsChannel.com reports. The fund bought 74,737 shares of the medical device company’s stock, valued at approximately $5,812,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in DexCom during the 4th quarter valued at about $25,000. Private Trust Co. NA grew its holdings in shares of DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after buying an additional 245 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of DexCom during the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. purchased a new position in DexCom in the 4th quarter worth approximately $49,000. Finally, Midwest Capital Advisors LLC purchased a new position in DexCom in the 4th quarter worth approximately $54,000. 97.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Canaccord Genuity Group lifted their target price on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company reiterated an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.82.

Insider Buying and Selling

In related news, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the completion of the sale, the chief executive officer now directly owns 319,037 shares in the company, valued at $27,727,505.67. This represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jacob Steven Leach sold 2,634 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $228,920.94. Following the sale, the chief operating officer now owns 268,644 shares of the company’s stock, valued at $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,657 shares of company stock valued at $8,019,422 over the last 90 days. Corporate insiders own 0.30% of the company’s stock.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $70.69 on Monday. The firm has a market cap of $27.62 billion, a PE ratio of 49.43, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The firm’s 50 day simple moving average is $83.99 and its 200-day simple moving average is $76.93. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. As a group, equities analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

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.