HighTower Advisors LLC Purchases 6,543 Shares of DexCom, Inc. (DXCM)
HighTower Advisors LLC raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 19.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,408 shares of the medical device company’s stock after buying an additional 6,543 shares during the quarter. HighTower Advisors LLC’s holdings in DexCom were worth $2,962,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Winslow Capital Management LLC purchased a new position in shares of DexCom in the 2nd quarter worth about $117,451,000. BNP Paribas Arbitrage SA raised its position in shares of DexCom by 111.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,471 shares of the medical device company’s stock worth $693,000 after purchasing an additional 4,995 shares during the last quarter. State of Wisconsin Investment Board raised its position in shares of DexCom by 29.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 68,511 shares of the medical device company’s stock worth $5,012,000 after purchasing an additional 15,420 shares during the last quarter. Morgan Stanley raised its position in shares of DexCom by 18.0% in the 1st quarter. Morgan Stanley now owns 2,092,962 shares of the medical device company’s stock worth $177,336,000 after purchasing an additional 319,631 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of DexCom by 9.0% in the 2nd quarter. Victory Capital Management Inc. now owns 146,661 shares of the medical device company’s stock worth $10,729,000 after purchasing an additional 12,135 shares during the last quarter.
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DXCM has been the subject of several recent analyst reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $60.00 price target (down previously from $76.00) on shares of DexCom in a research report on Thursday, September 28th. Citigroup Inc. lowered DexCom from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 28th. BidaskClub lowered DexCom from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised DexCom from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $57.00 price target (down previously from $85.00) on shares of DexCom in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $72.19.
Shares of DexCom, Inc. (DXCM) opened at 48.00 on Friday. The company’s market capitalization is $4.15 billion. DexCom, Inc. has a 1-year low of $42.62 and a 1-year high of $88.80. The firm’s 50 day moving average price is $68.39 and its 200-day moving average price is $72.25.
DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.07. The business had revenue of $170.60 million for the quarter, compared to analyst estimates of $166.54 million. DexCom had a negative return on equity of 27.90% and a negative net margin of 10.27%. The company’s revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.24) earnings per share. Analysts expect that DexCom, Inc. will post ($0.80) EPS for the current year.
In related news, EVP Andrew K. Balo sold 3,244 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $71.18, for a total transaction of $230,907.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kevin R. Sayer sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $71.86, for a total value of $431,160.00. The disclosure for this sale can be found here. Insiders sold 32,223 shares of company stock worth $2,285,138 over the last three months. Corporate insiders own 1.70% of the company’s stock.
DexCom Company Profile
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.
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