Kornitzer Capital Management Inc. KS Takes $9.96 Million Position in DexCom, Inc. (NASDAQ:DXCM)

Kornitzer Capital Management Inc. KS bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 80,275 shares of the medical device company’s stock, valued at approximately $9,961,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DXCM. Greenleaf Trust lifted its position in shares of DexCom by 37.9% during the fourth quarter. Greenleaf Trust now owns 6,411 shares of the medical device company’s stock worth $796,000 after purchasing an additional 1,761 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in shares of DexCom by 3.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 10,407 shares of the medical device company’s stock worth $1,291,000 after acquiring an additional 310 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of DexCom by 73.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 867 shares of the medical device company’s stock worth $108,000 after acquiring an additional 367 shares during the period. Daiwa Securities Group Inc. boosted its holdings in DexCom by 4.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 56,725 shares of the medical device company’s stock valued at $7,039,000 after purchasing an additional 2,339 shares during the period. Finally, HealthInvest Partners AB purchased a new position in DexCom in the fourth quarter valued at $2,241,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In other DexCom news, CFO Jereme M. Sylvain sold 3,363 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total transaction of $392,562.99. Following the completion of the sale, the chief financial officer now directly owns 71,142 shares of the company’s stock, valued at approximately $8,304,405.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Matthew Vincent Dolan sold 1,990 shares of DexCom stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $137.81, for a total value of $274,241.90. Following the sale, the executive vice president now owns 42,377 shares of the company’s stock, valued at $5,839,974.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jereme M. Sylvain sold 3,363 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total transaction of $392,562.99. Following the transaction, the chief financial officer now owns 71,142 shares in the company, valued at $8,304,405.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,375 shares of company stock worth $25,530,859. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup boosted their price target on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada assumed coverage on shares of DexCom in a report on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price objective on the stock. StockNews.com upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Raymond James raised their price target on DexCom from $147.00 to $151.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.40.

DexCom Stock Performance

Shares of DXCM stock traded down $3.59 during trading hours on Friday, hitting $130.71. The stock had a trading volume of 2,859,646 shares, compared to its average volume of 2,337,474. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.84 and a quick ratio of 2.48. The firm has a market capitalization of $50.39 billion, a PE ratio of 99.78, a PEG ratio of 2.31 and a beta of 1.20. The stock’s 50 day moving average is $129.55 and its 200 day moving average is $116.66. DexCom, Inc. has a twelve month low of $74.75 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 8th. The medical device company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. DexCom had a net margin of 14.95% and a return on equity of 28.31%. DexCom’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, research analysts forecast that DexCom, Inc. will post 1.76 earnings per share for the current fiscal year.

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.