Bridgewater Associates LP Reduces Stake in DexCom, Inc. (NASDAQ:DXCM)

Bridgewater Associates LP cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 319,629 shares of the medical device company’s stock after selling 27,695 shares during the quarter. Bridgewater Associates LP owned 0.08% of DexCom worth $21,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Freedom Investment Management Inc. raised its holdings in shares of DexCom by 10.2% during the third quarter. Freedom Investment Management Inc. now owns 3,035 shares of the medical device company’s stock worth $203,000 after purchasing an additional 281 shares during the last quarter. Cynosure Group LLC grew its position in DexCom by 1,028.7% during the 3rd quarter. Cynosure Group LLC now owns 36,232 shares of the medical device company’s stock worth $2,429,000 after purchasing an additional 33,022 shares during the period. Townsquare Capital LLC grew its position in DexCom by 43.6% during the 3rd quarter. Townsquare Capital LLC now owns 9,568 shares of the medical device company’s stock worth $641,000 after purchasing an additional 2,905 shares during the period. Thematics Asset Management raised its stake in shares of DexCom by 34.8% during the 3rd quarter. Thematics Asset Management now owns 246,173 shares of the medical device company’s stock valued at $16,503,000 after buying an additional 63,495 shares during the last quarter. Finally, J. Stern & Co. LLP lifted its holdings in shares of DexCom by 115.4% in the 3rd quarter. J. Stern & Co. LLP now owns 23,438 shares of the medical device company’s stock valued at $1,571,000 after buying an additional 12,557 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Price Performance

DexCom stock opened at $78.10 on Thursday. The company has a fifty day simple moving average of $71.11 and a 200-day simple moving average of $88.51. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $30.51 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 2.38 and a beta of 1.17. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00.

Analyst Ratings Changes

DXCM has been the topic of several analyst reports. Wells Fargo & Company raised their target price on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Raymond James dropped their price objective on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 target price on shares of DexCom in a research note on Monday, August 26th. Royal Bank of Canada dropped their price target on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.59.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. The trade was a 0.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. This represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,431 shares of company stock valued at $399,319. Corporate insiders own 0.30% of the company’s stock.

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.