Cardinal Point Capital Management ULC Takes $249,000 Position in DexCom, Inc. (NASDAQ:DXCM)

Cardinal Point Capital Management ULC bought a new stake in DexCom, Inc. (NASDAQ:DXCM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,200 shares of the medical device company’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DXCM. Jennison Associates LLC increased its stake in DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of DexCom by 44.6% in 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 buying an additional 876,739 shares during the period. Two Sigma Advisers LP raised its holdings in DexCom by 182.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after buying an additional 739,000 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in 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 buying an additional 435,401 shares during the period. Finally, Intech Investment Management LLC grew its holdings in DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock worth $25,967,000 after acquiring an additional 369,587 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

DXCM stock opened at $79.84 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The firm has a 50 day moving average price of $77.13 and a 200-day moving average price of $78.59. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The firm has a market capitalization of $31.19 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 2.36 and a beta of 1.12.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DXCM shares. JPMorgan Chase & Co. increased their target price on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price objective on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Canaccord Genuity Group upped their target price on DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a report on Monday, December 9th. Sanford C. Bernstein raised their price target on DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Oppenheimer reduced their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.00.

DexCom 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.