Jennison Associates LLC Has $678.98 Million Stock Holdings in DexCom, Inc. $DXCM

Jennison Associates LLC reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,090,374 shares of the medical device company’s stock after selling 1,427,172 shares during the quarter. Jennison Associates LLC owned about 2.57% of DexCom worth $678,981,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SWS Partners acquired a new stake in DexCom in the second quarter valued at approximately $1,661,000. Shell Asset Management Co. grew its position in DexCom by 16.8% in the 2nd quarter. Shell Asset Management Co. now owns 35,812 shares of the medical device company’s stock valued at $3,126,000 after purchasing an additional 5,138 shares during the period. Marshall Wace LLP increased its stake in DexCom by 260.7% during the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company’s stock valued at $333,630,000 after purchasing an additional 2,762,504 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in DexCom by 400.2% during the third quarter. E. Ohman J or Asset Management AB now owns 77,492 shares of the medical device company’s stock worth $5,214,000 after buying an additional 62,000 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC lifted its stake in shares of DexCom by 10.0% in the third quarter. Zevenbergen Capital Investments LLC now owns 685,433 shares of the medical device company’s stock valued at $46,123,000 after buying an additional 62,098 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DXCM has been the subject of a number of analyst reports. Citigroup reiterated a “buy” rating and set a $77.00 price target (up previously from $75.00) on shares of DexCom in a research note on Thursday, December 11th. BTIG Research dropped their price objective on DexCom from $109.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Leerink Partners reaffirmed an “outperform” rating and set a $92.00 price objective on shares of DexCom in a report on Tuesday, December 16th. Piper Sandler set a $75.00 target price on shares of DexCom and gave the company a “buy” rating in a report on Friday, October 31st. Finally, UBS Group dropped their price target on shares of DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $86.30.

DexCom Price Performance

Shares of NASDAQ:DXCM opened at $72.86 on Friday. The company has a market capitalization of $28.42 billion, a P/E ratio of 40.48, a price-to-earnings-growth ratio of 1.33 and a beta of 1.48. The company’s 50-day moving average is $66.41 and its 200 day moving average is $71.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $93.25.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. DexCom had a net margin of 15.96% and a return on equity of 30.65%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In other news, Director Richard Alexander Collins sold 3,948 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $55.17, for a total transaction of $217,811.16. Following the transaction, the director owned 37,994 shares of the company’s stock, valued at $2,096,128.98. This represents a 9.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jacob Steven Leach acquired 18,200 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $55.04 per share, with a total value of $1,001,728.00. Following the acquisition, the chief operating officer owned 331,697 shares in the company, valued at $18,256,602.88. The trade was a 5.81% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 7,866 shares of company stock worth $448,177. Insiders own 0.32% of the company’s stock.

DexCom Company 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.