Bank Pictet & Cie Europe AG Sells 8,524 Shares of DexCom, Inc. $DXCM

Bank Pictet & Cie Europe AG trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,301 shares of the medical device company’s stock after selling 8,524 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in DexCom were worth $13,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in DexCom in the second quarter valued at approximately $173,237,000. Deutsche Bank AG acquired a new stake in DexCom during the 2nd quarter valued at approximately $164,035,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in DexCom by 15.6% during the 2nd 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 purchasing an additional 1,515,702 shares during the last quarter. SG Americas Securities LLC raised its holdings in DexCom by 271.4% during the 1st quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company’s stock worth $129,699,000 after purchasing an additional 1,509,219 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in DexCom during the 2nd quarter worth approximately $89,940,000. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Down 0.5%

DXCM traded down $0.40 during midday trading on Tuesday, hitting $85.58. The company had a trading volume of 724,113 shares, compared to its average volume of 4,950,859. The stock’s 50 day moving average price is $87.58 and its 200 day moving average price is $76.12. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $92.59. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 1.44 and a beta of 1.48. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, research analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $85.48, for a total transaction of $145,316.00. Following the transaction, the executive vice president directly owned 98,185 shares of the company’s stock, valued at approximately $8,392,853.80. This represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme M. Sylvain sold 3,638 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total value of $302,936.26. Following the completion of the transaction, the executive vice president owned 146,828 shares in the company, valued at approximately $12,226,367.56. The trade was a 2.42% 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. Insiders sold a total of 24,257 shares of company stock worth $2,049,173 over the last three months. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DXCM shares. BTIG Research upped their price objective on shares of DexCom from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Stifel Nicolaus set a $95.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a research note on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Mizuho set a $100.00 price target on DexCom in a report on Tuesday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $92.43.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.