DexCom, Inc. (NASDAQ:DXCM) Stock Position Lowered by Plato Investment Management Ltd

Plato Investment Management Ltd lowered its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 43.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,603 shares of the medical device company’s stock after selling 5,802 shares during the quarter. Plato Investment Management Ltd’s holdings in DexCom were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DXCM. Canada Pension Plan Investment Board boosted its position in shares of DexCom by 189.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock valued at $75,471,000 after purchasing an additional 435,401 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of DexCom by 16.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after buying an additional 353,019 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of DexCom by 53.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock valued at $66,352,000 after acquiring an additional 345,114 shares during the last quarter. Bellevue Group AG boosted its stake in shares of DexCom by 33.5% during the 1st quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock worth $169,380,000 after acquiring an additional 306,604 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of DexCom during the second quarter worth $31,793,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on DXCM. Canaccord Genuity Group reiterated a “buy” rating and issued a $145.00 price target on shares of DexCom in a research report on Tuesday, July 23rd. UBS Group reduced their price target on shares of DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective on shares of DexCom in a research report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.59.

DexCom Stock Up 3.0 %

DXCM stock opened at $74.68 on Friday. The firm has a market cap of $29.17 billion, a PE ratio of 44.72, a PEG ratio of 2.28 and a beta of 1.17. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a fifty day simple moving average of $69.77 and a 200 day simple moving average of $92.14. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

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.