CIBC Asset Management Inc Acquires 7,642 Shares of DexCom, Inc. (NASDAQ:DXCM)

CIBC Asset Management Inc increased its holdings in DexCom, Inc. (NASDAQ:DXCM) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,891 shares of the medical device company’s stock after purchasing an additional 7,642 shares during the period. CIBC Asset Management Inc’s holdings in DexCom were worth $8,306,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Legal & General Group Plc increased its position in 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 worth $339,352,000 after purchasing an additional 49,076 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in DexCom by 16.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after purchasing an additional 353,019 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in DexCom by 1.1% during the first quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock worth $252,906,000 after buying an additional 20,400 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in DexCom by 14.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,617,001 shares of the medical device company’s stock worth $183,336,000 after buying an additional 203,043 shares during the period. Finally, Rathbones Group PLC boosted its stake in DexCom by 5.8% during the second quarter. Rathbones Group PLC now owns 1,401,802 shares of the medical device company’s stock worth $158,936,000 after buying an additional 76,727 shares during the period. Institutional investors own 97.75% of the company’s stock.

Insiders Place Their Bets

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 426 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. This 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 corporate insiders.

DexCom Stock Up 1.6 %

NASDAQ:DXCM opened at $75.88 on Friday. The firm 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 debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The company has a 50-day moving average of $70.03 and a 200 day moving average of $91.67. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Leerink Partners dropped their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Raymond James dropped their price objective on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. Oppenheimer dropped 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. Finally, Baird R W lowered shares of DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.