Proficio Capital Partners LLC Takes $5.81 Million Position in DexCom, Inc. (NASDAQ:DXCM)

Proficio Capital Partners LLC bought a new stake in DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 74,737 shares of the medical device company’s stock, valued at approximately $5,812,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DXCM. Blue Whale Capital LLP grew its stake in shares of DexCom by 91.9% in the 3rd quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock valued at $15,821,000 after purchasing an additional 113,000 shares during the last quarter. Brooktree Capital Management purchased a new position in DexCom in the 3rd quarter valued at $683,000. National Pension Service increased its stake in DexCom by 4.1% in the 3rd quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock valued at $63,671,000 after buying an additional 37,363 shares during the period. Intact Investment Management Inc. purchased a new position in DexCom during the 3rd quarter worth $650,000. Finally, Motley Fool Asset Management LLC lifted its stake in shares of DexCom by 168.7% in the 3rd quarter. Motley Fool Asset Management LLC now owns 272,622 shares of the medical device company’s stock worth $17,993,000 after acquiring an additional 171,150 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 2.7 %

Shares of NASDAQ:DXCM opened at $85.99 on Tuesday. The company has a market capitalization of $33.60 billion, a P/E ratio of 60.13, a P/E/G ratio of 2.30 and a beta of 1.14. The stock’s fifty day simple moving average is $84.82 and its 200-day simple moving average is $76.85. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59.

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

Insider Buying and Selling

In related news, CEO Kevin R. Sayer sold 33,359 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the transaction, the chief executive officer now directly owns 319,037 shares in the company, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jereme M. Sylvain sold 2,090 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $181,641.90. Following the completion of the sale, the executive vice president now directly owns 83,526 shares in the company, valued at approximately $7,259,244.66. The trade was a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,083 shares of company stock worth $3,309,794. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DXCM. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $86.00 to $104.00 in a report on Thursday, January 16th. Wells Fargo & Company lifted their price target on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Morgan Stanley increased their price objective on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Citigroup boosted their target price on shares of DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group increased their price target on shares of DexCom from $99.00 to $103.00 and gave the company a “buy” rating in a report on Friday, February 14th. 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.com, DexCom has a consensus rating of “Moderate Buy” and an average price target of $99.06.

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.