Intech Investment Management LLC Grows Position in DexCom, Inc. (NASDAQ:DXCM)

Intech Investment Management LLC grew its stake in DexCom, Inc. (NASDAQ:DXCM) by 60.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 622,788 shares of the medical device company’s stock after purchasing an additional 235,458 shares during the period. DexCom comprises approximately 1.4% of Intech Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Intech Investment Management LLC owned 0.16% of DexCom worth $48,434,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC lifted its position in shares of DexCom by 1,683.2% during the 3rd 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 in the last quarter. Congress Asset Management Co. lifted its position in shares of DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after buying an additional 1,332,522 shares in the last quarter. Fisher Funds Management LTD purchased a new position in shares of DexCom during the 4th quarter valued at approximately $96,507,000. Westfield Capital Management Co. LP lifted its position in shares of DexCom by 44.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after buying an additional 876,739 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of 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 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 analysts have recently issued reports on the company. Baird R W upgraded DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Morgan Stanley increased their price objective on DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Robert W. Baird raised 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. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Finally, Citigroup increased their price objective on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and an average target price of $99.82.

Insider Activity at DexCom

In other news, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 319,037 shares in the company, valued at approximately $27,727,505.67. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 14,076 shares of DexCom stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the transaction, the chief operating officer now owns 313,497 shares of the company’s stock, valued at $22,063,918.86. The trade was a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,657 shares of company stock worth $8,019,422 in the last three months. 0.30% of the stock is owned by company insiders.

DexCom Stock Performance

Shares of DexCom stock opened at $71.35 on Tuesday. The business has a 50-day moving average of $83.82 and a 200 day moving average of $76.94. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00. The stock has a market capitalization of $27.88 billion, a price-to-earnings ratio of 49.90, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28.

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%. As a group, sell-side 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.