PDT Partners LLC Buys 32,508 Shares of DexCom, Inc. (NASDAQ:DXCM)

PDT Partners LLC raised its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 164.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,290 shares of the medical device company’s stock after purchasing an additional 32,508 shares during the quarter. PDT Partners LLC’s holdings in DexCom were worth $3,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC lifted its holdings 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 worth $464,782,000 after acquiring an additional 6,544,102 shares during the last quarter. Westfield Capital Management Co. LP raised its position in DexCom by 44.6% during the third 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 purchasing an additional 876,739 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in DexCom by 189.1% during the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock worth $25,967,000 after purchasing an additional 369,587 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of DexCom by 16.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after purchasing an additional 353,019 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

Shares of DexCom stock opened at $77.99 on Friday. The business has a 50 day moving average of $71.39 and a 200 day moving average of $88.11. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The company has a market cap of $30.46 billion, a PE ratio of 46.70, a P/E/G ratio of 2.39 and a beta of 1.17. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $90.00 price target on shares of DexCom in a research note on Monday, August 26th. Sanford C. Bernstein increased their target price on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Wells Fargo & Company upped their price target on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Leerink Partners decreased their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.59.

Insiders Place Their Bets

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

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.