Jennison Associates LLC Has $384.28 Million Stock Holdings in DexCom, Inc. $DXCM

Jennison Associates LLC cut its stake in DexCom, Inc. (NASDAQ:DXCM) by 42.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,789,944 shares of the medical device company’s stock after selling 4,300,430 shares during the period. Jennison Associates LLC’s holdings in DexCom were worth $384,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in DexCom by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock valued at $3,327,897,000 after acquiring an additional 1,133,638 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after acquiring an additional 2,294,709 shares in the last quarter. Legal & General Group Plc raised its holdings in DexCom by 4.7% in the 3rd quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company’s stock valued at $177,356,000 after acquiring an additional 117,493 shares in the last quarter. DSM Capital Partners LLC raised its holdings in DexCom by 76.5% in the 3rd quarter. DSM Capital Partners LLC now owns 2,533,539 shares of the medical device company’s stock valued at $170,482,000 after acquiring an additional 1,098,243 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in DexCom in the 3rd quarter valued at $163,964,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Mizuho boosted their price target on DexCom from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Weiss Ratings raised DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Citigroup boosted their price target on DexCom from $77.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Truist Financial reissued a “buy” rating and set a $80.00 price target (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Finally, Wells Fargo & Company lowered their price target on DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $63.04, for a total transaction of $107,168.00. Following the sale, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is owned by corporate insiders.

DexCom Price Performance

DexCom stock opened at $57.88 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The stock has a market capitalization of $22.33 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.55. The stock has a fifty day moving average of $66.12 and a 200-day moving average of $66.45.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. DexCom’s revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that DexCom, Inc. will post 2.49 earnings per share for the current fiscal year.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.