Cornerstone Advisors LLC Decreases Position in DexCom, Inc. $DXCM

Cornerstone Advisors LLC reduced its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,600 shares of the medical device company’s stock after selling 7,300 shares during the period. Cornerstone Advisors LLC’s holdings in DexCom were worth $1,252,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DXCM. Andra AP fonden acquired a new position in DexCom in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of DexCom in the second quarter worth about $26,000. SJS Investment Consulting Inc. boosted its position in DexCom by 4,800.0% during the third quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after acquiring an additional 384 shares during the last quarter. Financial Consulate Inc. purchased a new stake in DexCom during the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC raised its holdings in DexCom by 83.8% in the 3rd quarter. Sound Income Strategies LLC now owns 625 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Price Performance

NASDAQ:DXCM opened at $72.80 on Thursday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $91.87. The stock’s fifty day moving average is $69.30 and its two-hundred day moving average is $69.35. The company has a market capitalization of $28.02 billion, a P/E ratio of 34.67, a P/E/G ratio of 1.37 and a beta of 1.49. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DXCM shares. Wells Fargo & Company lowered their target price on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Truist Financial reiterated a “buy” rating and set a $80.00 price objective (down previously from $82.00) on shares of DexCom in a research report on Tuesday. Leerink Partners reissued an “outperform” rating and set a $92.00 price objective on shares of DexCom in a research note on Tuesday, December 16th. TD Cowen cut their target price on DexCom from $100.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Mizuho lifted their price target on DexCom from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.18.

DexCom 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.