Pinnacle Financial Partners Inc Cuts Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Pinnacle Financial Partners Inc reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,337 shares of the medical device company’s stock after selling 5,612 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in DexCom were worth $3,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new stake in DexCom during the 4th quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new stake in DexCom during the 4th quarter valued at about $38,000. MassMutual Private Wealth & Trust FSB boosted its holdings in DexCom by 46.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 833 shares of the medical device company’s stock valued at $65,000 after acquiring an additional 265 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in DexCom during the 3rd quarter valued at about $57,000. Finally, Park Place Capital Corp boosted its holdings in DexCom by 3,516.7% during the 4th quarter. Park Place Capital Corp now owns 868 shares of the medical device company’s stock valued at $68,000 after acquiring an additional 844 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $86.91, for a total value of $2,899,230.69. Following the completion of the sale, the chief executive officer now owns 319,037 shares of the company’s stock, valued at approximately $27,727,505.67. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jacob Steven Leach sold 2,634 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the transaction, the chief operating officer now directly owns 268,644 shares in the company, valued at approximately $23,347,850.04. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,083 shares of company stock valued at $3,309,794. Insiders own 0.30% of the company’s stock.

DexCom Price Performance

Shares of DXCM opened at $88.78 on Friday. The stock has a market cap of $34.69 billion, a PE ratio of 62.08, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $142.00. The firm’s 50-day simple moving average is $83.50 and its two-hundred day simple moving average is $76.06.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. Analysts anticipate that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DXCM shares. Morgan Stanley boosted their price objective on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price target on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Redburn Atlantic upgraded DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $115.00 in a research report on Monday, February 3rd. Finally, Citigroup upped their target price on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.06.

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.