Pitcairn Co. Cuts Position in DexCom, Inc. (NASDAQ:DXCM)

Pitcairn Co. trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 38.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,613 shares of the medical device company’s stock after selling 13,769 shares during the period. Pitcairn Co.’s holdings in DexCom were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after buying an additional 6,544,102 shares during the period. Legal & General Group Plc increased its position in DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after purchasing an additional 49,076 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of DexCom by 11.8% in the 3rd 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. Massachusetts Financial Services Co. MA lifted its position in shares of DexCom by 16.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after purchasing an additional 353,019 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in shares of DexCom by 8.0% during the third quarter. Champlain Investment Partners LLC now owns 2,213,283 shares of the medical device company’s stock valued at $148,378,000 after purchasing an additional 163,210 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Jacob Steven Leach sold 746 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sadie Stern sold 4,259 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the transaction, the executive vice president now owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,431 shares of company stock worth $399,319. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Sanford C. Bernstein boosted their price objective on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Leerink Partners reduced their price target on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Barclays decreased their price objective on DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price on shares of DexCom in a report on Monday, August 26th. Finally, Wells Fargo & Company increased their price target on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.59.

DexCom Trading Down 2.2 %

Shares of NASDAQ:DXCM opened at $72.83 on Friday. 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 52-week low of $62.34 and a 52-week high of $142.00. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 2.28 and a beta of 1.17. The business has a 50-day moving average price of $70.61 and a 200-day moving average price of $89.83.

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.