DexCom, Inc. (NASDAQ:DXCM) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,000 shares of the medical device company’s stock after selling 3,100 shares during the period. State of Michigan Retirement System’s holdings in DexCom were worth $8,244,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of DexCom by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock valued at $664,056,000 after buying an additional 214,136 shares in the last quarter. Jennison Associates LLC grew its position in DexCom by 10.3% in the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after acquiring an additional 710,858 shares in the last quarter. Groupama Asset Managment increased its stake in DexCom by 1.1% during the third quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock worth $1,912,000 after purchasing an additional 31,358 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of DexCom by 44.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of DexCom by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,734,155 shares of the medical device company’s stock valued at $183,298,000 after purchasing an additional 288,381 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DXCM. Canaccord Genuity Group increased their target price on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Redburn Atlantic upgraded DexCom from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price objective on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.82.

Insider Activity

In other DexCom news, EVP Jereme M. Sylvain sold 2,090 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the sale, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at approximately $7,259,244.66. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $2,899,230.69. Following the sale, the chief executive officer now owns 319,037 shares of the company’s stock, valued at $27,727,505.67. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,083 shares of company stock valued at $3,309,794. Insiders own 0.30% of the company’s stock.

DexCom Stock Down 0.6 %

Shares of NASDAQ DXCM opened at $81.96 on Thursday. The stock has a market cap of $32.03 billion, a PE ratio of 57.31, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The business has a 50-day moving average price of $84.90 and a 200 day moving average price of $76.94. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current 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.