Kornitzer Capital Management Inc. KS Has $4.34 Million Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Kornitzer Capital Management Inc. KS increased its position in DexCom, Inc. (NASDAQ:DXCM) by 45.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,752 shares of the medical device company’s stock after purchasing an additional 17,435 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in DexCom were worth $4,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in DexCom by 1,683.2% during the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares in the last quarter. Congress Asset Management Co. boosted its position in DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock worth $105,529,000 after acquiring an additional 1,332,522 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after buying an additional 876,739 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after buying an additional 739,000 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after buying an additional 369,587 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DexCom

In related news, COO Jacob Steven Leach sold 2,634 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 $228,920.94. Following the sale, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kevin R. Sayer sold 33,359 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $2,899,230.69. Following the completion of the sale, the chief executive officer now directly owns 319,037 shares in the company, valued at $27,727,505.67. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,083 shares of company stock valued at $3,309,794 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DXCM. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and increased their price target for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Raymond James lowered their price objective on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Leerink Partners lowered their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Sanford C. Bernstein increased their price objective on DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.06.

DexCom Stock Performance

NASDAQ:DXCM opened at $90.53 on Wednesday. The stock’s 50-day simple moving average is $82.65 and its 200 day simple moving average is $75.62. The firm has a market capitalization of $35.36 billion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 17.22% and a return on equity of 31.40%. On average, analysts anticipate that DexCom, Inc. will post 1.69 EPS for the current fiscal year.

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.