Jennison Associates LLC Decreases Stock Holdings in DexCom, Inc. $DXCM

Jennison Associates LLC reduced its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 81.9% during the first quarter, HoldingsChannel.com reports. The fund owned 1,048,097 shares of the medical device company’s stock after selling 4,741,847 shares during the quarter. Jennison Associates LLC’s holdings in DexCom were worth $65,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Reflection Asset Management purchased a new stake in shares of DexCom during the 4th quarter valued at $25,000. Ascentis Independent Advisors purchased a new position in shares of DexCom in the 1st quarter worth about $25,000. CVA Family Office LLC boosted its holdings in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock worth $30,000 after buying an additional 147 shares during the last quarter. MCF Advisors LLC bought a new position in DexCom during the fourth quarter valued at about $32,000. Finally, ORG Partners LLC grew its position in DexCom by 124.3% during the fourth quarter. ORG Partners LLC now owns 507 shares of the medical device company’s stock valued at $34,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the sale, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $72.00, for a total transaction of $1,926,432.00. Following the completion of the transaction, the insider directly owned 355,726 shares of the company’s stock, valued at approximately $25,612,272. This trade represents a 7.00% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 71,750 shares of company stock valued at $5,163,241. Corporate insiders own 0.28% of the company’s stock.

DexCom Stock Performance

Shares of DexCom stock opened at $76.65 on Monday. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The stock’s 50-day simple moving average is $71.16 and its 200 day simple moving average is $68.74. The stock has a market capitalization of $29.58 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.26 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that DexCom, Inc. will post 2.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on DXCM shares. Deutsche Bank Aktiengesellschaft began coverage on shares of DexCom in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price objective on the stock. Weiss Ratings raised shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Tuesday, March 24th. Bank of America lowered their price target on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Robert W. Baird set a $80.00 price objective on DexCom in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $85.36.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.