Empirical Finance LLC Buys 364 Shares of DexCom, Inc. (NASDAQ:DXCM)

Empirical Finance LLC grew its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 3.0% in the 3rd quarter, Holdings Channel reports. The firm owned 12,619 shares of the medical device company’s stock after acquiring an additional 364 shares during the quarter. Empirical Finance LLC’s holdings in DexCom were worth $846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its position in shares of DexCom by 189.1% during the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in DexCom by 16.9% during 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 acquiring an additional 353,019 shares during the period. Assenagon Asset Management S.A. raised its position in shares of DexCom by 53.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock worth $66,352,000 after acquiring an additional 345,114 shares in the last quarter. Bellevue Group AG lifted its stake in shares of DexCom by 33.5% in the 1st quarter. Bellevue Group AG now owns 1,221,197 shares of the medical device company’s stock valued at $169,380,000 after purchasing an additional 306,604 shares during the period. Finally, Magnetar Financial LLC bought a new stake in shares of DexCom during the 2nd quarter valued at about $31,793,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BTIG Research lowered their target price on DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Oppenheimer lowered their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Baird R W lowered shares of DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 price target on shares of DexCom in a research note on Monday, August 26th. Finally, Wells Fargo & Company increased their price objective on shares of DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.59.

Insider Activity at DexCom

In other news, COO Jacob Steven Leach sold 746 shares of the company’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 value of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at $18,318,872.25. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 426 shares of DexCom stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value 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 disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

DexCom Stock Performance

Shares of DexCom stock opened at $75.88 on Friday. The company has a market cap of $29.64 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 2.22 and a beta of 1.17. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The business has a 50 day moving average price of $70.03 and a 200-day moving average price of $91.67.

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.