Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in DexCom, Inc. (NASDAQ:DXCM)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,263 shares of the medical device company’s stock after purchasing an additional 6,290 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DexCom were worth $3,676,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DXCM. Versant Capital Management Inc purchased a new position in shares of DexCom during the 4th quarter valued at $25,000. Riverview Trust Co raised its holdings in DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 232 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of DexCom in the fourth quarter valued at about $38,000. RPg Family Wealth Advisory LLC bought a new position in shares of DexCom in the third quarter worth about $57,000. Finally, Covestor Ltd grew its position in shares of DexCom by 53.7% during the third quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock worth $64,000 after purchasing an additional 335 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Oppenheimer lowered their price target on DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Sanford C. Bernstein upped their target price on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Canaccord Genuity Group boosted their price target on shares of DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Citigroup raised their price objective on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Four 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.41.

Insider Activity at DexCom

In other news, COO Jacob Steven Leach sold 2,634 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $228,920.94. Following the completion of the sale, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at approximately $23,347,850.04. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sadie Stern sold 4,259 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the transaction, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,342 shares of company stock worth $3,628,069. Insiders own 0.30% of the company’s stock.

DexCom Trading Down 0.3 %

Shares of DXCM opened at $88.08 on Monday. The company’s fifty day simple moving average is $81.76 and its 200-day simple moving average is $75.36. The company has a market cap of $34.40 billion, a P/E ratio of 52.74, a P/E/G ratio of 2.26 and a beta of 1.14. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. DexCom, Inc. has a twelve month low of $62.34 and a twelve month high of $142.00.

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.