Granite Investment Partners LLC Sells 1,805 Shares of DexCom, Inc. (NASDAQ:DXCM)

Posted by Amy Steele on May 26th, 2023

Granite Investment Partners LLC lessened its holdings in shares of DexCom, Inc. (NASDAQ:DXCM – Get Rating) by 1.7% during the 4th quarter, HoldingsChannel reports. The firm owned 101,693 shares of the medical device company’s stock after selling 1,805 shares during the period. Granite Investment Partners LLC’s holdings in DexCom were worth $11,516,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. KB Financial Partners LLC bought a new stake in DexCom in the 1st quarter valued at approximately $72,000. James Investment Research Inc. bought a new stake in DexCom in the 4th quarter valued at approximately $27,000. Close Asset Management Ltd lifted its stake in DexCom by 200.0% in the 4th quarter. Close Asset Management Ltd now owns 264 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 176 shares in the last quarter. CoreCap Advisors LLC bought a new stake in DexCom in the 4th quarter valued at approximately $35,000. Finally, MADDEN SECURITIES Corp bought a new stake in shares of DexCom during the 4th quarter worth approximately $38,000. Institutional investors own 94.01% of the company’s stock.

Insider Buying and Selling

In other DexCom news, SVP Matthew Vincent Dolan sold 226 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $114.40, for a total value of $25,854.40. Following the completion of the transaction, the senior vice president now directly owns 26,536 shares in the company, valued at $3,035,718.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Matthew Vincent Dolan sold 226 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $114.40, for a total transaction of $25,854.40. Following the completion of the transaction, the senior vice president now directly owns 26,536 shares in the company, valued at $3,035,718.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sadie Stern sold 393 shares of the firm’s stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $112.35, for a total value of $44,153.55. Following the transaction, the executive vice president now owns 83,252 shares of the company’s stock, valued at $9,353,362.20. The disclosure for this sale can be found here. Insiders sold a total of 141,835 shares of company stock worth $16,443,758 in the last ninety days. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DXCM. Barclays upped their price objective on DexCom from $110.00 to $115.00 in a research note on Monday, May 1st. Wolfe Research began coverage on DexCom in a research note on Thursday, January 26th. They set an “outperform” rating and a $121.00 price objective on the stock. Stifel Nicolaus boosted their target price on DexCom from $130.00 to $140.00 in a report on Friday, April 28th. Cowen boosted their target price on DexCom from $114.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, February 10th. Finally, Raymond James boosted their target price on DexCom from $138.00 to $140.00 in a report on Friday, April 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.81.

DexCom Price Performance

Shares of DXCM traded down $0.18 during trading hours on Friday, hitting $114.43. 377,871 shares of the company were exchanged, compared to its average volume of 2,325,712. The company has a market cap of $44.36 billion, a price-to-earnings ratio of 163.73 and a beta of 1.16. DexCom, Inc. has a fifty-two week low of $67.11 and a fifty-two week high of $126.44. The company has a quick ratio of 1.82, a current ratio of 2.02 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average is $117.86 and its 200 day moving average is $114.51.

DexCom (NASDAQ:DXCM – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The medical device company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. DexCom had a return on equity of 18.29% and a net margin of 9.68%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $720.52 million. During the same period in the prior year, the company earned $0.08 EPS. DexCom’s revenue for the quarter was up 1085.0% on a year-over-year basis. On average, equities analysts anticipate that DexCom, Inc. will post 1.06 earnings per share for the current fiscal year.

DexCom Company Profile

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DexCom, Inc is a medical device manufacturing company, which engages in the design, development and commercialization of glucose monitoring systems for ambulatory use by people with diabetes. Its products include Dexcom G6 CGM System, DexCom G6 CGM System for Medicare, Software and Mobile apps. The company was founded by John F.