Rock Springs Capital Management LP Cuts Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Rock Springs Capital Management LP decreased its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 353,000 shares of the medical device company's stock after selling 171,000 shares during the quarter. Rock Springs Capital Management LP owned approximately 0.09% of DexCom worth $27,453,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Stifel Financial Corp grew its stake in shares of DexCom by 8.8% in the fourth quarter. Stifel Financial Corp now owns 101,013 shares of the medical device company's stock worth $7,856,000 after acquiring an additional 8,142 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of DexCom by 2.6% in the 4th quarter. OneDigital Investment Advisors LLC now owns 60,272 shares of the medical device company's stock worth $4,687,000 after buying an additional 1,548 shares during the last quarter. Thematics Asset Management increased its position in shares of DexCom by 4.3% during the 4th quarter. Thematics Asset Management now owns 256,729 shares of the medical device company's stock valued at $19,966,000 after purchasing an additional 10,556 shares during the last quarter. Sharpepoint LLC bought a new position in DexCom in the fourth quarter worth approximately $343,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in DexCom by 70.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 54,310 shares of the medical device company's stock valued at $4,224,000 after purchasing an additional 22,458 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Performance

Shares of DexCom stock traded up $3.92 during midday trading on Thursday, hitting $70.78. The company had a trading volume of 3,922,797 shares, compared to its average volume of 4,242,458. The company has a fifty day simple moving average of $73.83 and a 200 day simple moving average of $76.60. The stock has a market cap of $27.75 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 2.30 and a beta of 1.50. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $139.24. 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 - Get Free Report) last issued its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. This trade represents a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin R. Sayer sold 32,498 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total transaction of $2,287,209.24. Following the sale, the chief executive officer now directly owns 372,029 shares in the company, valued at $26,183,401.02. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,009 shares of company stock valued at $8,044,178 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DXCM has been the topic of several recent analyst reports. Baird R W upgraded shares of DexCom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Cfra Research upgraded shares of DexCom to a "hold" rating in a research report on Friday, March 21st. Redburn Atlantic upgraded DexCom from a "neutral" rating to a "buy" rating and upped their price objective for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a research note on Saturday, March 8th. Finally, Robert W. Baird upgraded DexCom from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $86.00 to $104.00 in a research note on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

DexCom Company 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.