CI Investments Inc. Decreases Holdings in DexCom, Inc. $DXCM

CI Investments Inc. lowered its position in DexCom, Inc. (NASDAQ:DXCM) by 3.0% during the first quarter, HoldingsChannel.com reports. The fund owned 872,578 shares of the medical device company’s stock after selling 27,160 shares during the quarter. CI Investments Inc.’s holdings in DexCom were worth $54,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in DexCom by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 42,456 shares of the medical device company’s stock valued at $2,666,000 after purchasing an additional 4,965 shares in the last quarter. Wilkerson Advisory Group LLC acquired a new stake in DexCom in the first quarter valued at $169,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of DexCom in the first quarter valued at $44,000. Dimensional Fund Advisors LP increased its position in shares of DexCom by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,895,549 shares of the medical device company’s stock valued at $119,017,000 after buying an additional 23,844 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of DexCom by 16.4% during the 1st quarter. Parallel Advisors LLC now owns 2,861 shares of the medical device company’s stock worth $180,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays reiterated an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. Raymond James Financial restated a “strong-buy” rating and set a $91.00 target price on shares of DexCom in a research report on Monday, June 8th. Weiss Ratings raised shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Mizuho increased their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of DexCom in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $85.36.

DexCom Stock Down 1.2%

Shares of NASDAQ:DXCM opened at $74.75 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $28.84 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.25 and a beta of 1.45. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The stock’s fifty day simple moving average is $71.75 and its 200-day simple moving average is $68.86.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. As a group, equities research analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Jon Coleman sold 4,912 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the sale, the executive vice president directly owned 100,361 shares of the company’s stock, valued at $7,326,353. This trade represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at approximately $8,034,969.15. This trade represents a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 71,750 shares of company stock worth $5,163,241 in the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

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.