Jennison Associates LLC Grows Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Jennison Associates LLC lifted its stake in DexCom, Inc. (NASDAQ:DXCM) by 1,683.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,932,899 shares of the medical device company’s stock after buying an additional 6,544,102 shares during the period. Jennison Associates LLC’s holdings in DexCom were worth $464,782,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DXCM. Legal & General Group Plc boosted its position in DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after acquiring an additional 49,076 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in DexCom by 16.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after acquiring an additional 353,019 shares in the last quarter. 1832 Asset Management L.P. boosted its position in DexCom by 1.1% during the 1st quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock valued at $252,906,000 after acquiring an additional 20,400 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in DexCom by 14.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,617,001 shares of the medical device company’s stock valued at $183,336,000 after acquiring an additional 203,043 shares in the last quarter. Finally, Rathbones Group PLC lifted its holdings in shares of DexCom by 5.8% during the second quarter. Rathbones Group PLC now owns 1,401,802 shares of the medical device company’s stock valued at $158,936,000 after purchasing an additional 76,727 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Trading Down 1.8 %

Shares of DXCM stock opened at $74.88 on Wednesday. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 44.84, a PEG ratio of 2.33 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The firm has a fifty day moving average price of $70.16 and a 200-day moving average price of $90.82. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00.

Insider Buying and Selling at DexCom

In other news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. This represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 426 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $90.00 target price on shares of DexCom in a report on Monday, August 26th. BTIG Research lowered their target price on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Morgan Stanley lowered their target price on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Baird R W lowered shares of DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their target price on shares of DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, DexCom has an average rating of “Moderate Buy” and a consensus price target of $104.59.

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.