Sumitomo Mitsui Trust Group Inc. Reduces Holdings in DexCom, Inc. (NASDAQ:DXCM)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 945,885 shares of the medical device company’s stock after selling 3,680 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of DexCom worth $73,561,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DXCM. Jennison Associates LLC grew its holdings 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 purchasing an additional 6,544,102 shares during the period. Westfield Capital Management Co. LP lifted 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 buying an additional 876,739 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of DexCom by 182.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after acquiring an additional 739,000 shares during the period. Intech Investment Management LLC increased its holdings in 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 acquiring an additional 369,587 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in DexCom by 53.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock worth $66,352,000 after acquiring an additional 345,114 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DXCM has been the subject of a number of recent analyst reports. Raymond James dropped their price target on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein lifted their target price on DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.41.

Insiders Place Their Bets

In other DexCom news, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the completion of the transaction, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jereme M. Sylvain sold 2,090 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 $181,641.90. Following the transaction, the executive vice president now owns 83,526 shares in the company, valued at $7,259,244.66. This trade represents a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,342 shares of company stock valued at $3,628,069 over the last ninety days. 0.30% of the stock is owned by insiders.

DexCom Stock Down 0.3 %

Shares of NASDAQ DXCM opened at $88.08 on Monday. 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 12-month low of $62.34 and a 12-month high of $142.00. The firm’s 50-day moving average price is $81.76 and its 200-day moving average price is $75.36. The stock has a market capitalization of $34.40 billion, a price-to-earnings ratio of 52.74, a P/E/G ratio of 2.26 and a beta of 1.14.

DexCom Company 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.