BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,481 Shares of DexCom, Inc. (NASDAQ:DXCM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in DexCom, Inc. (NASDAQ:DXCM) by 10.1% in the third quarter, Holdings Channel reports. The firm owned 66,354 shares of the medical device company’s stock after selling 7,481 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in DexCom were worth $4,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC grew its position in DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after buying an additional 6,544,102 shares during the period. Legal & General Group Plc grew its position in shares of DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after acquiring an additional 49,076 shares during the period. Westfield Capital Management Co. LP grew its position in shares of DexCom by 44.6% during the 3rd 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 acquiring an additional 876,739 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of DexCom by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,734,155 shares of the medical device company’s stock worth $183,298,000 after purchasing an additional 288,381 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of DexCom by 16.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after purchasing an additional 353,019 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DXCM. Oppenheimer reduced their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Raymond James dropped their price objective on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Sanford C. Bernstein lifted their target price on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $90.00 price target on shares of DexCom in a research report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.59.

DexCom Price Performance

DexCom stock opened at $79.31 on Tuesday. The stock has a market cap of $30.98 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 2.38 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. The business has a 50-day simple moving average of $71.58 and a 200 day simple moving average of $87.18. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00.

Insider Transactions at DexCom

In other DexCom news, EVP Sadie Stern sold 426 shares of DexCom stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the sale, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction dated 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 $18,318,872.25. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,431 shares of company stock valued at $399,319. 0.30% of the stock is 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.