Kentucky Retirement Systems Decreases Stock Holdings in DexCom, Inc. (NASDAQ:DXCM)

Kentucky Retirement Systems decreased its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,538 shares of the medical device company’s stock after selling 379 shares during the period. Kentucky Retirement Systems’ holdings in DexCom were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC lifted its holdings in DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after purchasing an additional 6,544,102 shares in the last quarter. Congress Asset Management Co. lifted its holdings in DexCom by 5,456.9% in the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after purchasing an additional 1,332,522 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after purchasing an additional 739,000 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after purchasing an additional 369,587 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 0.6 %

Shares of NASDAQ:DXCM opened at $88.78 on Friday. The business has a 50-day moving average price of $83.50 and a 200 day moving average price of $76.06. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $34.69 billion, a price-to-earnings ratio of 62.08, a PEG ratio of 2.30 and a beta of 1.14. DexCom, Inc. has a 12-month low of $62.34 and a 12-month high of $142.00.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Sell-side analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DXCM. Redburn Atlantic upgraded DexCom from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $115.00 in a report on Monday, February 3rd. Wells Fargo & Company raised their price objective on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Canaccord Genuity Group raised their target price on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Citigroup raised their target price on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.06.

Insider Buying and Selling at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $2,899,230.69. Following the completion of the transaction, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jacob Steven Leach sold 2,634 shares of DexCom stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the transaction, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at approximately $23,347,850.04. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,083 shares of company stock valued at $3,309,794 in the last three months. 0.30% of the stock is owned by corporate insiders.

About DexCom

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.