Shell Asset Management Co. Sells 9,727 Shares of DexCom, Inc. (NASDAQ:DXCM)

Shell Asset Management Co. reduced its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 20.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,310 shares of the medical device company’s stock after selling 9,727 shares during the period. Shell Asset Management Co.’s holdings in DexCom were worth $4,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC grew its position in shares of DexCom by 11.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock valued at $108,000 after acquiring an additional 115 shares during the period. CX Institutional bought a new position in DexCom in the 4th quarter worth approximately $286,000. abrdn plc boosted its holdings in DexCom by 21.1% in the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after buying an additional 66,348 shares during the period. Cerity Partners LLC boosted its holdings in DexCom by 5,791.0% in the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after buying an additional 456,097 shares during the period. Finally, Eagle Asset Management Inc. boosted its holdings in DexCom by 21.5% in the 4th quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock worth $217,929,000 after buying an additional 310,728 shares during the period. 97.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DXCM shares. StockNews.com raised shares of DexCom from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Citigroup raised their price objective on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Canaccord Genuity Group increased their target price on shares of DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Redburn Atlantic initiated coverage on shares of DexCom in a research note on Thursday, May 30th. They issued a “neutral” rating and a $130.00 target price on the stock. Finally, Raymond James increased their target price on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus target price of $140.94.

DexCom Price Performance

Shares of DexCom stock traded up $0.49 on Friday, hitting $115.79. 3,009,534 shares of the company traded hands, compared to its average volume of 2,637,164. The firm’s 50-day simple moving average is $129.67 and its 200 day simple moving average is $125.77. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08. The company has a market cap of $46.05 billion, a P/E ratio of 74.70, a P/E/G ratio of 2.83 and a beta of 1.22. DexCom, Inc. has a 12-month low of $74.75 and a 12-month high of $142.00.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 25th. The medical device company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $911.20 million. DexCom had a net margin of 16.82% and a return on equity of 31.01%. Analysts expect that DexCom, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the transaction, the executive vice president now owns 67,560 shares in the company, valued at approximately $8,055,854.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Sadie Stern sold 4,137 shares of DexCom stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $140.00, for a total transaction of $579,180.00. Following the sale, the executive vice president now owns 76,304 shares of the company’s stock, valued at approximately $10,682,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the sale, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. Insiders have sold a total of 187,293 shares of company stock worth $25,295,452 in the last 90 days. 0.30% of the stock is owned by company insiders.

DexCom 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.