Pictet Asset Management Holding SA lowered its stake in shares of DexCom, Inc. (NASDAQ:DXCM – Free Report) by 27.8% in the third quarter, HoldingsChannel.com reports. The firm owned 477,455 shares of the medical device company’s stock after selling 183,783 shares during the period. Pictet Asset Management Holding SA’s holdings in DexCom were worth $41,200,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Mather Group LLC. raised its position in DexCom by 27.7% in the 3rd quarter. Mather Group LLC. now owns 563 shares of the medical device company’s stock valued at $49,000 after purchasing an additional 122 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in DexCom by 2.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 5,510 shares of the medical device company’s stock worth $475,000 after buying an additional 150 shares during the period. Elevation Wealth Partners LLC raised its holdings in shares of DexCom by 61.0% in the third quarter. Elevation Wealth Partners LLC now owns 401 shares of the medical device company’s stock valued at $35,000 after buying an additional 152 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in DexCom by 15.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock valued at $77,000 after buying an additional 153 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its position in DexCom by 5.4% in the third quarter. Simplicity Wealth LLC now owns 3,169 shares of the medical device company’s stock valued at $273,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently issued reports on DXCM. Deutsche Bank Aktiengesellschaft lifted their price objective on DexCom from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Stifel Nicolaus set a $95.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Robert W. Baird set a $105.00 price target on shares of DexCom and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wells Fargo & Company boosted their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Benchmark raised their target price on DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $95.50.
Read Our Latest Report on DexCom
DexCom Stock Down 1.4%
DXCM stock opened at $79.92 on Wednesday. The firm has a market cap of $29.81 billion, a PE ratio of 30.36, a P/E/G ratio of 1.34 and a beta of 1.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.74 and a quick ratio of 1.40. The firm has a 50 day simple moving average of $84.79 and a 200 day simple moving average of $75.08. DexCom, Inc. has a 12 month low of $55.84 and a 12 month high of $92.59.
DexCom (NASDAQ:DXCM – Get Free Report) last announced its earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. DexCom’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts forecast that DexCom, Inc. will post 2.68 earnings per share for the current fiscal year.
Insider Activity
In other news, EVP Michael Brown sold 1,700 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $85.48, for a total value of $145,316.00. Following the completion of the sale, the executive vice president owned 98,185 shares in the company, valued at $8,392,853.80. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $88.37, for a total value of $226,669.05. Following the transaction, the executive vice president directly owned 126,043 shares in the company, valued at $11,138,419.91. The trade was a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,822 shares of company stock valued at $1,920,193. 0.28% of the stock is currently owned by insiders.
DexCom Profile
DexCom, Inc. develops and markets continuous glucose monitoring (CGM) systems for people with diabetes. Its wearable sensors measure glucose levels throughout the day and send readings to compatible receivers or mobile devices, helping users monitor glucose trends and support treatment decisions. The company’s products include its Dexcom G6 and G7 CGM systems, along with software and connected services for users and caregivers. DexCom also offers Stelo, an over-the-counter glucose biosensor designed for adults who do not use insulin.
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