Jennison Associates LLC Boosts Stock Position in DexCom, Inc. $DXCM

Jennison Associates LLC lifted its holdings in DexCom, Inc. (NASDAQ:DXCM) by 9.4% in the second quarter, HoldingsChannel reports. The firm owned 11,517,546 shares of the medical device company’s stock after purchasing an additional 994,300 shares during the quarter. Jennison Associates LLC’s holdings in DexCom were worth $1,005,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DXCM. Brighton Jones LLC grew its holdings in shares of DexCom by 257.7% in the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock valued at $1,290,000 after purchasing an additional 11,946 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after buying an additional 264 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in DexCom by 558.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 385,594 shares of the medical device company’s stock worth $25,958,000 after buying an additional 327,023 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in DexCom by 0.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,600 shares of the medical device company’s stock worth $65,053,000 after buying an additional 6,715 shares during the period. Finally, Amalgamated Bank boosted its stake in DexCom by 2.7% during the first quarter. Amalgamated Bank now owns 83,082 shares of the medical device company’s stock worth $5,674,000 after buying an additional 2,176 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Down 2.0%

Shares of DXCM opened at $69.23 on Wednesday. The firm has a market capitalization of $27.15 billion, a P/E ratio of 48.08, a P/E/G ratio of 1.48 and a beta of 1.47. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $71.94 and a 200-day moving average price of $78.02.

DexCom (NASDAQ:DXCM) last issued its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share. Equities research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of DexCom in a research note on Tuesday, October 21st. They set a “buy” rating and a $85.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DexCom in a research note on Wednesday, October 8th. Argus assumed coverage on shares of DexCom in a research note on Thursday, August 21st. They set a “buy” rating and a $100.00 price objective for the company. The Goldman Sachs Group dropped their price objective on shares of DexCom from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Finally, Barclays lifted their price objective on shares of DexCom from $93.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.19.

Insider Transactions at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of DexCom stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares in the company, valued at $4,143,868.26. The trade was a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $80.00, for a total value of $117,280.00. Following the completion of the sale, the executive vice president owned 105,223 shares of the company’s stock, valued at $8,417,840. The trade was a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 5,383 shares of company stock valued at $434,274. Insiders own 0.32% of the company’s stock.

DexCom Company Profile

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.