Clearbridge Investments LLC Has $3.73 Million Stake in DexCom, Inc. (NASDAQ:DXCM)

Clearbridge Investments LLC trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 99.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,022 shares of the medical device company’s stock after selling 3,218,598 shares during the period. Clearbridge Investments LLC’s holdings in DexCom were worth $3,725,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Balentine LLC acquired a new position in DexCom in the fourth quarter valued at approximately $598,000. Coldstream Capital Management Inc. raised its holdings in DexCom by 37.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 6,135 shares of the medical device company’s stock worth $761,000 after purchasing an additional 1,660 shares during the period. PNC Financial Services Group Inc. raised its holdings in DexCom by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 46,409 shares of the medical device company’s stock worth $5,759,000 after purchasing an additional 3,823 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of DexCom during the fourth quarter worth $284,000. Finally, Norges Bank bought a new stake in shares of DexCom during the fourth quarter worth $540,178,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Performance

Shares of DXCM opened at $127.37 on Friday. The firm has a 50-day moving average of $132.96 and a 200-day moving average of $124.43. DexCom, Inc. has a one year low of $74.75 and a one year high of $142.00. The company has a market cap 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 debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.53.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $911.20 million. As a group, equities analysts forecast that DexCom, Inc. will post 1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several research reports. Royal Bank of Canada initiated coverage on shares of DexCom in a research report on Tuesday, March 12th. They set an “outperform” rating and a $165.00 price objective for the company. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday. Raymond James increased their price objective on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 26th. Citigroup increased their price objective on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group increased their price objective on shares of DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and an average price target of $141.67.

Insider Activity

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 completion of the transaction, the chief executive officer now 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 SEC, which is accessible through this hyperlink. In other news, CEO Kevin R. Sayer sold 81,007 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 333,526 shares in the company, valued at approximately $44,479,027.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Jon Brown sold 629 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $126.25, for a total transaction of $79,411.25. Following the sale, the executive vice president now owns 68,212 shares of the company’s stock, valued at approximately $8,611,765. The disclosure for this sale can be found here. Insiders sold a total of 186,641 shares of company stock valued at $25,217,707 in the last quarter. Company 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.