Synovus Financial Corp Increases Stake in DexCom, Inc. (NASDAQ:DXCM)

Synovus Financial Corp increased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 11.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,579 shares of the medical device company’s stock after buying an additional 158 shares during the period. Synovus Financial Corp’s holdings in DexCom were worth $564,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DXCM. Lone Pine Capital LLC increased its stake in shares of DexCom by 389.7% during the fourth quarter. Lone Pine Capital LLC now owns 2,267,809 shares of the medical device company’s stock valued at $838,454,000 after buying an additional 1,804,722 shares during the period. Baillie Gifford & Co. grew its stake in DexCom by 29.0% in the fourth quarter. Baillie Gifford & Co. now owns 5,453,844 shares of the medical device company’s stock valued at $2,016,395,000 after purchasing an additional 1,225,388 shares during the last quarter. Norges Bank purchased a new position in DexCom in the fourth quarter valued at about $283,445,000. Artisan Partners Limited Partnership grew its stake in DexCom by 29.8% in the first quarter. Artisan Partners Limited Partnership now owns 1,967,829 shares of the medical device company’s stock valued at $707,218,000 after purchasing an additional 451,362 shares during the last quarter. Finally, TCW Group Inc. purchased a new position in DexCom in the first quarter valued at about $91,730,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Several research firms have issued reports on DXCM. Canaccord Genuity lifted their target price on DexCom from $445.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Atlantic Securities began coverage on DexCom in a research note on Thursday, April 15th. They issued an “overweight” rating and a $438.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on DexCom from $480.00 to $488.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Oppenheimer boosted their price target on DexCom from $415.00 to $449.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Finally, Raymond James boosted their price target on DexCom from $449.00 to $466.00 and gave the stock an “outperform” rating in a research note on Friday, April 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. DexCom currently has a consensus rating of “Buy” and a consensus target price of $459.35.

In other news, EVP Richard Doubleday sold 1,109 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $360.49, for a total value of $399,783.41. Following the completion of the sale, the executive vice president now directly owns 21,554 shares in the company, valued at $7,770,001.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jacob Steven Leach sold 22,755 shares of the business’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $395.00, for a total value of $8,988,225.00. The disclosure for this sale can be found here. Insiders sold 51,917 shares of company stock valued at $19,883,899 over the last three months. 0.52% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:DXCM opened at $398.98 on Friday. DexCom, Inc. has a 12-month low of $305.63 and a 12-month high of $456.23. The firm has a market capitalization of $38.58 billion, a P/E ratio of 78.23 and a beta of 0.76. The firm has a 50 day moving average of $374.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.70 and a quick ratio of 5.22.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, April 29th. The medical device company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. DexCom had a return on equity of 17.86% and a net margin of 25.36%. The company had revenue of $505.00 million during the quarter, compared to the consensus estimate of $482.67 million. On average, equities research analysts anticipate that DexCom, Inc. will post 2.19 EPS for the current year.

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 offers its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include DexCom G6, an integrated CGM system for diabetes management; Dexcom G7, a next generation G7 CGM system; and Dexcom Share, a remote monitoring system.

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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