Fred Alger Management LLC Decreases Position in DexCom, Inc. (NASDAQ:DXCM)

Fred Alger Management LLC trimmed its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 92.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,182 shares of the medical device company’s stock after selling 459,462 shares during the period. Fred Alger Management LLC’s holdings in DexCom were worth $2,359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Whale Capital LLP grew its position in DexCom by 91.9% during the 3rd quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock worth $15,821,000 after acquiring an additional 113,000 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of DexCom by 51.6% during the third quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock valued at $2,182,000 after purchasing an additional 11,075 shares during the period. Brooktree Capital Management bought a new position in shares of DexCom in the third quarter worth approximately $683,000. National Pension Service increased its stake in shares of DexCom by 4.1% in the third quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock worth $63,671,000 after buying an additional 37,363 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in DexCom during the 3rd quarter valued at $650,000. 97.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

DXCM has been the topic of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Royal Bank of Canada reduced their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company increased their price objective on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Robert W. Baird boosted their target price on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Oppenheimer decreased their target price on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.59.

DexCom Stock Performance

Shares of DXCM opened at $77.99 on Monday. 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 stock has a market cap of $30.46 billion, a P/E ratio of 46.70, a P/E/G ratio of 2.38 and a beta of 1.17. The business’s 50 day moving average price is $71.39 and its 200-day moving average price is $87.55. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00.

Insiders Place Their Bets

In other DexCom news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the transaction, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 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. Over the last three months, insiders have sold 5,431 shares of company stock valued at $399,319. 0.30% of the stock is currently owned by corporate insiders.

DexCom Company Profile

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.