King Luther Capital Management Corp Reduces Stock Holdings in DexCom, Inc. $DXCM

King Luther Capital Management Corp lessened its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 10.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 232,583 shares of the medical device company’s stock after selling 27,410 shares during the quarter. King Luther Capital Management Corp’s holdings in DexCom were worth $15,651,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after purchasing an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares during the period. Empowered Funds LLC grew its holdings in shares of DexCom by 5.4% during the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock worth $577,000 after buying an additional 436 shares in the last quarter. Focus Partners Wealth grew its position in DexCom by 13.2% in the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after acquiring an additional 841 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of DexCom by 84.4% during the second quarter. Private Trust Co. NA now owns 1,239 shares of the medical device company’s stock worth $108,000 after buying an additional 567 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Trading Down 0.7%

DXCM stock opened at $72.27 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The stock has a market capitalization of $27.81 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 1.42 and a beta of 1.49. The business has a fifty day moving average price of $69.37 and a 200 day moving average price of $69.37. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $91.87.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DXCM shares. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. UBS Group dropped their target price on DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Morgan Stanley restated an “overweight” rating on shares of DexCom in a report on Monday, January 12th. Truist Financial reiterated a “buy” rating and issued a $80.00 price objective (down from $82.00) on shares of DexCom in a report on Tuesday. Finally, Weiss Ratings lowered shares of DexCom from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.18.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.