DexCom, Inc. (NASDAQ:DXCM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 4.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 360,504 shares of the medical device company’s stock after selling 14,860 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of DexCom worth $40,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its holdings in DexCom by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 54,100 shares of the medical device company’s stock valued at $6,134,000 after purchasing an additional 1,500 shares in the last quarter. DT Investment Partners LLC boosted its holdings in DexCom by 492.2% in the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 315 shares in the last quarter. LaFleur & Godfrey LLC boosted its holdings in DexCom by 5.2% in the second quarter. LaFleur & Godfrey LLC now owns 5,244 shares of the medical device company’s stock valued at $595,000 after purchasing an additional 261 shares in the last quarter. Stableford Capital II LLC boosted its holdings in DexCom by 4.8% in the second quarter. Stableford Capital II LLC now owns 4,592 shares of the medical device company’s stock valued at $526,000 after purchasing an additional 212 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in DexCom in the second quarter valued at approximately $2,825,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Up 2.8 %

Shares of NASDAQ DXCM traded up $2.03 during trading on Friday, reaching $74.31. 2,154,672 shares of the stock were exchanged, compared to its average volume of 3,772,056. The company has a market capitalization of $29.55 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The business’s 50-day moving average price is $96.30 and its 200 day moving average price is $116.73. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, equities analysts forecast that DexCom, Inc. will post 1.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DXCM has been the subject of a number of research analyst reports. BTIG Research lowered their price target on DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Royal Bank of Canada reduced their price objective on DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird boosted their price objective on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Oppenheimer reduced their price objective on DexCom from $150.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $145.00 price objective on shares of DexCom in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.25.

Insider Activity

In other news, EVP Michael Jon Brown sold 652 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total value of $45,346.60. Following the completion of the transaction, the executive vice president now directly owns 66,249 shares in the company, valued at $4,607,617.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the transaction, the executive vice president now directly owns 66,249 shares in the company, valued at approximately $4,607,617.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sadie Stern sold 427 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the transaction, the executive vice president now owns 75,877 shares in the company, valued at $8,729,648.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,135 shares of company stock worth $446,797. 0.30% of the stock is currently 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.