Simplify Asset Management Inc. Makes New Investment in DexCom, Inc. (NASDAQ:DXCM)

Simplify Asset Management Inc. bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 105,405 shares of the medical device company’s stock, valued at approximately $8,197,000. DexCom accounts for 0.4% of Simplify Asset Management Inc.’s portfolio, making the stock its 13th biggest holding.

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of DexCom in the 4th quarter valued at about $10,476,000. TD Private Client Wealth LLC boosted its stake in DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 167 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of DexCom by 269.4% during the fourth quarter. Teacher Retirement System of Texas now owns 28,759 shares of the medical device company’s stock valued at $2,237,000 after purchasing an additional 20,974 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of DexCom by 4.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 170,949 shares of the medical device company’s stock valued at $13,295,000 after purchasing an additional 7,711 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in shares of DexCom by 42.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 26,307 shares of the medical device company’s stock worth $2,013,000 after purchasing an additional 7,848 shares during the period. 97.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the firm’s stock in a transaction 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 $7,259,244.66. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Jon Brown sold 13,000 shares of DexCom stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the transaction, the executive vice president now owns 105,602 shares in the company, valued at $7,432,268.76. The trade was a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,009 shares of company stock worth $8,044,178. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DXCM. Wells Fargo & Company restated an “overweight” rating on shares of DexCom in a research report on Saturday, March 8th. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Canaccord Genuity Group increased their price objective on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their target price on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.82.

DexCom Trading Down 1.7 %

Shares of DexCom stock opened at $73.80 on Friday. The business has a fifty day simple moving average of $83.33 and a 200-day simple moving average of $76.98. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 51.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. 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 posted its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. On average, equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.