Suvretta Capital Management LLC Increases Position in DexCom, Inc. (NASDAQ:DXCM)

Suvretta Capital Management LLC increased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 438.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,680 shares of the medical device company’s stock after purchasing an additional 25,800 shares during the quarter. Suvretta Capital Management LLC’s holdings in DexCom were worth $2,124,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of DexCom during the 2nd quarter worth approximately $25,000. Sachetta LLC raised its position in DexCom by 255.2% during the second quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares during the period. Riverview Trust Co raised its position in DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after acquiring an additional 232 shares during the period. DT Investment Partners LLC lifted its holdings in DexCom by 492.2% during the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 315 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of DexCom in the third quarter valued at about $57,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Up 0.2 %

Shares of DXCM opened at $78.10 on Friday. The company’s 50-day moving average price is $71.24 and its 200 day moving average price is $88.44. DexCom, Inc. has a 12-month low of $62.34 and a 12-month high of $142.00. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The firm has a market cap of $30.51 billion, a P/E ratio of 46.77, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17.

Insider Transactions at DexCom

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,431 shares of company stock worth $399,319. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on DXCM. Piper Sandler restated an “overweight” rating and set a $90.00 price target on shares of DexCom in a research report on Monday, August 26th. Sanford C. Bernstein raised their target price on DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price target on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada decreased their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Leerink Partners dropped their target price on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.59.

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.