Westpac Banking Corp Boosts Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Westpac Banking Corp grew its position in DexCom, Inc. (NASDAQ:DXCM) by 16.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,870 shares of the medical device company’s stock after acquiring an additional 680 shares during the period. Westpac Banking Corp’s holdings in DexCom were worth $379,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in DexCom by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock valued at $775,256,000 after buying an additional 56,094 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of DexCom by 10.3% in the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after acquiring an additional 710,858 shares during the last quarter. Norges Bank acquired a new stake in shares of DexCom in the fourth quarter worth $385,367,000. Groupama Asset Managment raised its holdings in shares of DexCom by 1.1% during the third quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock worth $1,912,000 after purchasing an additional 31,358 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in DexCom by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,825,206 shares of the medical device company’s stock valued at $219,716,000 after purchasing an additional 91,051 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Down 3.2 %

NASDAQ DXCM opened at $59.83 on Friday. DexCom, Inc. has a one year low of $57.52 and a one year high of $141.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. The business has a fifty day moving average price of $80.14 and a 200 day moving average price of $76.87. The company has a market cap of $23.38 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.30 and a beta of 1.28.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. Research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased their price target on DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Citigroup raised their target price on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Robert W. Baird raised 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. Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.82.

Insider Transactions at DexCom

In other news, EVP Jereme M. Sylvain sold 2,090 shares of DexCom 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 transaction, the executive vice president now owns 83,526 shares in the company, valued at $7,259,244.66. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 14,076 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $990,668.88. Following the transaction, the chief operating officer now directly owns 313,497 shares in the company, valued at approximately $22,063,918.86. The trade was a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,009 shares of company stock worth $8,044,178 in the last ninety days. Insiders own 0.30% of the company’s stock.

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.