Paulson & CO. Inc. Sells 57,300 Shares of DexCom, Inc. (DXCM)
Paulson & CO. Inc. trimmed its stake in DexCom, Inc. (NASDAQ:DXCM) by 23.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,400 shares of the medical device company’s stock after selling 57,300 shares during the quarter. Paulson & CO. Inc. owned approximately 0.21% of DexCom worth $13,416,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of DXCM. UBS Asset Management Americas Inc. grew its holdings in shares of DexCom by 14.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 248,178 shares of the medical device company’s stock worth $21,028,000 after acquiring an additional 30,737 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of DexCom in the 1st quarter worth $631,000. SG Americas Securities LLC grew its holdings in shares of DexCom by 25.3% in the 1st quarter. SG Americas Securities LLC now owns 8,557 shares of the medical device company’s stock worth $725,000 after acquiring an additional 1,729 shares during the last quarter. Credit Agricole S A grew its holdings in shares of DexCom by 17.5% in the 1st quarter. Credit Agricole S A now owns 8,899 shares of the medical device company’s stock worth $754,000 after acquiring an additional 1,326 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new position in shares of DexCom in the 1st quarter worth $8,654,000.
DexCom, Inc. (DXCM) traded down 0.71% during mid-day trading on Tuesday, reaching $44.65. The company had a trading volume of 674,265 shares. The firm’s 50-day moving average price is $63.34 and its 200-day moving average price is $70.67. DexCom, Inc. has a 12 month low of $42.62 and a 12 month high of $88.80. The stock’s market cap is $3.86 billion.
DexCom (NASDAQ:DXCM) last released its earnings results on Tuesday, August 1st. The medical device company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $170.60 million during the quarter, compared to analysts’ expectations of $166.54 million. DexCom had a negative return on equity of 27.90% and a negative net margin of 10.27%. The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. Equities research analysts forecast that DexCom, Inc. will post ($0.80) EPS for the current fiscal year.
A number of equities analysts recently issued reports on DXCM shares. Northland Securities cut DexCom from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $85.00 to $60.00 in a report on Thursday, September 28th. Wedbush restated a “buy” rating and issued a $76.00 target price on shares of DexCom in a report on Wednesday, October 4th. Robert W. Baird restated a “hold” rating and issued a $79.00 target price on shares of DexCom in a report on Sunday, September 10th. BidaskClub upgraded DexCom from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Barclays PLC started coverage on DexCom in a report on Friday, September 15th. They issued an “equal weight” rating and a $76.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $72.19.
In other DexCom news, EVP Richard Doubleday sold 1,635 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $75.26, for a total transaction of $123,050.10. Following the completion of the transaction, the executive vice president now owns 72,395 shares in the company, valued at approximately $5,448,447.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven Robert Pacelli sold 1,450 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $69.81, for a total value of $101,224.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,023 shares of company stock valued at $1,625,018. Corporate insiders own 1.70% of the company’s stock.
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Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.
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