Fred Alger Management LLC Sells 459,462 Shares of DexCom, Inc. (NASDAQ:DXCM)

Fred Alger Management LLC lessened its stake in DexCom, Inc. (NASDAQ:DXCM) by 92.9% in the third quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DXCM. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in DexCom during the second quarter valued at $25,000. Sachetta LLC grew its stake in shares of DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 171 shares during the period. Riverview Trust Co increased its position in shares of DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 232 shares during the last quarter. DT Investment Partners LLC lifted its stake in shares of DexCom by 492.2% in the 2nd quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock worth $43,000 after purchasing an additional 315 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of DexCom in the third quarter worth approximately $57,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Down 0.1 %

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 company has a market capitalization of $30.46 billion, a PE ratio of 46.70, a price-to-earnings-growth 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. The firm has a 50-day simple moving average of $71.39 and a two-hundred day simple moving average of $87.55.

Insider Buying and Selling at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the transaction, the executive vice president now directly owns 71,192 shares in the company, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. This represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,431 shares of company stock worth $399,319 in the last quarter. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Leerink Partners cut their price target on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Robert W. Baird upped their price target on DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Raymond James lowered their price objective on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Seven investment 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.59.

DexCom 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.