Ithaka Group LLC Sells 1,351 Shares of DexCom, Inc. (NASDAQ:DXCM)

Ithaka Group LLC cut its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,222 shares of the medical device company’s stock after selling 1,351 shares during the period. DexCom comprises 1.6% of Ithaka Group LLC’s portfolio, making the stock its 24th biggest position. Ithaka Group LLC’s holdings in DexCom were worth $8,494,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DXCM. Jennison Associates LLC increased its position in DexCom by 1,683.2% during 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 during the period. Congress Asset Management Co. lifted its position in shares of DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after buying an additional 1,332,522 shares during the last quarter. Fisher Funds Management LTD bought a new stake in shares of DexCom in the 4th quarter valued at about $96,507,000. Westfield Capital Management Co. LP grew its position in shares of 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 worth $190,532,000 after buying an additional 876,739 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of DexCom by 182.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after acquiring an additional 739,000 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Jacob Steven Leach sold 2,634 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $228,920.94. Following the sale, the chief operating officer now owns 268,644 shares of the company’s stock, valued at $23,347,850.04. The trade was a 0.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction on 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 transaction, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,083 shares of company stock worth $3,826,604. 0.30% of the stock is owned by insiders.

DexCom Stock Up 0.7 %

Shares of NASDAQ:DXCM opened at $70.76 on Thursday. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The firm’s 50 day moving average price is $84.39 and its 200 day moving average price is $76.93. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $27.65 billion, a price-to-earnings ratio of 49.48, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. As a group, equities research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several research analyst reports. Canaccord Genuity Group raised their price objective on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Citigroup upped their price target on shares of DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Redburn Atlantic upgraded DexCom from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.82.

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.