DexCom, Inc. $DXCM Stock Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 27.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 477,455 shares of the medical device company’s stock after selling 183,783 shares during the quarter. Pictet Asset Management Holding SA owned about 0.13% of DexCom worth $41,200,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc bought a new position in DexCom during the 2nd quarter valued at about $173,237,000. Deutsche Bank AG bought a new stake in shares of DexCom during the 2nd quarter valued at $164,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of DexCom by 15.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after buying an additional 1,515,702 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in DexCom in the 2nd quarter worth approximately $89,940,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of DexCom by 100.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock worth $159,832,000 after purchasing an additional 1,275,142 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Price Performance

Shares of DXCM opened at $79.92 on Wednesday. DexCom, Inc. has a twelve month low of $55.84 and a twelve month high of $92.59. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 0.49. The company has a market cap of $29.81 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.45. The company has a 50 day moving average of $84.79 and a two-hundred day moving average of $75.08.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, October 29th. The medical device company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. DexCom had a net margin of 19.42% and a return on equity of 37.77%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $0.61 EPS. DexCom’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts predict that DexCom, Inc. will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $85.48, for a total value of $145,316.00. Following the sale, the executive vice president owned 98,185 shares in the company, valued at $8,392,853.80. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of DexCom stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the transaction, the executive vice president directly owned 126,043 shares of the company’s stock, valued at $11,138,419.91. The trade was a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 22,822 shares of company stock worth $1,920,193. Corporate insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DXCM shares. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 price objective (up from $90.00) on shares of DexCom in a report on Thursday, October 1st. Raymond James Financial reiterated a “strong-buy” rating and set a $97.00 price objective (up from $94.00) on shares of DexCom in a report on Friday, October 30th. Weiss Ratings upgraded DexCom from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Piper Sandler reissued an “overweight” rating and set a $95.00 price target (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Finally, Mizuho set a $100.00 price target on DexCom in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $95.50.

DexCom Profile

DexCom, Inc. develops and markets continuous glucose monitoring (CGM) systems for people with diabetes. Its wearable sensors measure glucose levels throughout the day and send readings to compatible receivers or mobile devices, helping users monitor glucose trends and support treatment decisions. The company’s products include its Dexcom G6 and G7 CGM systems, along with software and connected services for users and caregivers. DexCom also offers Stelo, an over-the-counter glucose biosensor designed for adults who do not use insulin.