Sumitomo Mitsui Trust Group Inc. Acquires 55,542 Shares of DexCom, Inc. (NASDAQ:DXCM)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 949,565 shares of the medical device company’s stock after buying an additional 55,542 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of DexCom worth $63,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DXCM. Taylor Frigon Capital Management LLC boosted its holdings in shares of DexCom by 51.6% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock worth $2,182,000 after purchasing an additional 11,075 shares during the period. National Pension Service boosted its stake in DexCom by 4.1% during 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. Intact Investment Management Inc. purchased a new position in DexCom during the third quarter worth $650,000. Waters Parkerson & CO. LLC increased its position in DexCom by 4.2% during the second quarter. Waters Parkerson & CO. LLC now owns 272,641 shares of the medical device company’s stock valued at $30,912,000 after acquiring an additional 10,892 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of DexCom by 1.7% in the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after acquiring an additional 49,076 shares during the period. Institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling at DexCom

In other news, COO Jacob Steven Leach sold 746 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer cut their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. UBS Group reduced their price target on DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Sanford C. Bernstein raised their price target on DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley cut their price objective on DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $90.00 target price on shares of DexCom in a research report on Monday, August 26th. Seven investment 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 stock has an average rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Trading Up 3.0 %

Shares of NASDAQ:DXCM opened at $74.68 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $29.17 billion, a PE ratio of 44.72, a P/E/G ratio of 2.28 and a beta of 1.17. DexCom, Inc. has a 12-month low of $62.34 and a 12-month high of $142.00. The business’s fifty day simple moving average is $69.77 and its 200-day simple moving average is $92.14.

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.