Envestnet Asset Management Inc. Grows Stock Position in DexCom, Inc. $DXCM

Envestnet Asset Management Inc. increased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 906,872 shares of the medical device company’s stock after buying an additional 141,601 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of DexCom worth $61,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DXCM. GAMMA Investing LLC raised its position in DexCom by 2.5% in the third quarter. GAMMA Investing LLC now owns 7,043 shares of the medical device company’s stock worth $474,000 after acquiring an additional 169 shares during the period. Inspire Investing LLC grew its position in shares of DexCom by 6.1% during the 3rd quarter. Inspire Investing LLC now owns 3,139 shares of the medical device company’s stock valued at $211,000 after acquiring an additional 180 shares during the period. Inspire Advisors LLC increased its stake in shares of DexCom by 2.5% in the 3rd quarter. Inspire Advisors LLC now owns 7,926 shares of the medical device company’s stock worth $533,000 after purchasing an additional 194 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after purchasing an additional 196 shares during the period. Finally, STF Management LP lifted its position in DexCom by 5.5% during the second quarter. STF Management LP now owns 4,041 shares of the medical device company’s stock valued at $353,000 after purchasing an additional 211 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $58.07, for a total value of $58,766.84. Following the sale, the director owned 27,031 shares of the company’s stock, valued at $1,569,690.17. The trade was a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Alexander Collins sold 2,906 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $59.05, for a total value of $171,599.30. Following the transaction, the director owned 35,088 shares of the company’s stock, valued at $2,071,946.40. This represents a 7.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.32% of the company’s stock.

DexCom Stock Performance

DXCM opened at $70.16 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 1.25 and a beta of 1.49. The company has a fifty day moving average of $68.80 and a 200 day moving average of $70.07. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $93.25.

Analyst Upgrades and Downgrades

A number of analysts have commented on DXCM shares. Morgan Stanley restated an “overweight” rating on shares of DexCom in a research report on Monday, January 12th. Wells Fargo & Company set a $93.00 target price on shares of DexCom and gave the stock an “overweight” rating in a report on Friday, October 31st. Leerink Partners reaffirmed an “outperform” rating and set a $92.00 price target on shares of DexCom in a report on Tuesday, December 16th. Citigroup reiterated a “buy” rating and issued a $77.00 price target (up from $75.00) on shares of DexCom in a research report on Thursday, December 11th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $86.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

About DexCom

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.