Envestnet Portfolio Solutions Inc. Raises Position in DexCom, Inc. (NASDAQ:DXCM)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 30.5% during the fourth quarter, Holdings Channel reports. The fund owned 16,159 shares of the medical device company’s stock after acquiring an additional 3,778 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DexCom were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Blue Whale Capital LLP raised its position in 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 in the last quarter. Motley Fool Asset Management LLC raised its holdings in DexCom by 168.7% in the third quarter. Motley Fool Asset Management LLC now owns 272,622 shares of the medical device company’s stock valued at $17,993,000 after acquiring an additional 171,150 shares in the last quarter. Watts Gwilliam & Co. LLC purchased a new position in DexCom in the fourth quarter worth approximately $3,334,000. Congress Asset Management Co. increased its position in shares of DexCom by 5,456.9% in the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after purchasing an additional 1,332,522 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of DexCom by 2,226.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company’s stock valued at $18,085,000 after purchasing an additional 222,548 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Trading Down 1.7 %

Shares of DXCM stock opened at $73.80 on Friday. The company has a market capitalization of $28.84 billion, a P/E ratio of 51.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $83.33 and its two-hundred day moving average is $76.98. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data 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 net margin of 14.29% and a return on equity of 30.14%. Equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 33,359 shares of the 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 completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Jereme M. Sylvain sold 2,090 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $181,641.90. Following the sale, the executive vice president now owns 83,526 shares in the company, valued at $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. Insiders sold a total of 105,009 shares of company stock worth $8,044,178 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

DXCM has been the subject of a number of analyst reports. Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $104.00 in a research note on Thursday, January 16th. Canaccord Genuity Group increased their price objective on DexCom from $99.00 to $103.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citigroup boosted their target price on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Morgan Stanley increased their price target on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and boosted their price objective for the stock 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.82.

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.