Sit Investment Associates Inc. Sells 3,473 Shares of DexCom, Inc. (NASDAQ:DXCM)

Sit Investment Associates Inc. decreased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,243 shares of the medical device company’s stock after selling 3,473 shares during the period. Sit Investment Associates Inc.’s holdings in DexCom were worth $10,207,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DXCM. Watts Gwilliam & Co. LLC purchased a new position in DexCom during the 4th quarter valued at $3,334,000. Congress Asset Management Co. grew its holdings in shares of DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company’s stock valued at $105,529,000 after buying an additional 1,332,522 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in DexCom by 2,226.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 232,543 shares of the medical device company’s stock valued at $18,085,000 after purchasing an additional 222,548 shares during the last quarter. First Hawaiian Bank increased its holdings in DexCom by 556.1% in the 4th quarter. First Hawaiian Bank now owns 23,159 shares of the medical device company’s stock worth $1,801,000 after buying an additional 19,629 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its position in DexCom by 500.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,000 shares of the medical device company’s stock valued at $467,000 after purchasing an additional 5,000 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $115.00 in a report on Monday, February 3rd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $86.00 to $104.00 in a research report on Thursday, January 16th. Finally, Cfra Research upgraded DexCom to a “hold” rating in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.82.

DexCom Stock Performance

NASDAQ DXCM opened at $59.83 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The stock has a market cap of $23.46 billion, a PE ratio of 41.84, a P/E/G ratio of 2.30 and a beta of 1.50. The stock has a fifty day simple moving average of $80.14 and a 200-day simple moving average of $76.92. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $141.99.

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

Insider Buying and Selling at DexCom

In other news, EVP Jereme M. Sylvain sold 2,090 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 transaction of $181,641.90. Following the transaction, the executive vice president now directly owns 83,526 shares of the company’s stock, valued at $7,259,244.66. This represents a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Jon Brown sold 13,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the transaction, the executive vice president now owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. This represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,009 shares of company stock worth $8,044,178. 0.30% of the stock is owned by insiders.

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.