CIBC Asset Management Inc Increases Stock Position in DexCom, Inc. (NASDAQ:DXCM)

CIBC Asset Management Inc raised its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,891 shares of the medical device company’s stock after buying an additional 7,642 shares during the period. CIBC Asset Management Inc’s holdings in DexCom were worth $8,306,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. 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 buying an additional 49,076 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in DexCom by 16.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after purchasing an additional 353,019 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in DexCom by 1.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock worth $252,906,000 after purchasing an additional 20,400 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in DexCom by 14.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,617,001 shares of the medical device company’s stock worth $183,336,000 after purchasing an additional 203,043 shares in the last quarter. Finally, Rathbones Group PLC raised its holdings in DexCom by 5.8% in the 2nd quarter. Rathbones Group PLC now owns 1,401,802 shares of the medical device company’s stock worth $158,936,000 after purchasing an additional 76,727 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several research reports. Baird R W lowered shares of DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James decreased their price target on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. Sanford C. Bernstein increased their price target on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Barclays decreased their price target on shares of DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average target price of $104.59.

DexCom Stock Performance

DXCM opened at $75.88 on Friday. DexCom, Inc. has a 12-month low of $62.34 and a 12-month high of $142.00. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 2.22 and a beta of 1.17. The company’s 50 day moving average is $70.03 and its 200 day moving average is $91.67. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 426 shares of DexCom stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction that occurred on 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 owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

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.