Pictet Asset Management Holding SA Trims Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Pictet Asset Management Holding SA decreased its position in DexCom, Inc. (NASDAQ:DXCM) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 662,619 shares of the medical device company’s stock after selling 10,420 shares during the period. Pictet Asset Management Holding SA owned 0.17% of DexCom worth $51,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC increased its stake in DexCom by 190.0% during the third quarter. Cerity Partners LLC now owns 60,050 shares of the medical device company’s stock worth $4,026,000 after acquiring an additional 39,344 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of DexCom by 22.4% during the 3rd quarter. D.A. Davidson & CO. now owns 32,578 shares of the medical device company’s stock worth $2,184,000 after purchasing an additional 5,969 shares during the last quarter. Townsquare Capital LLC raised its holdings in DexCom by 43.6% in the 3rd quarter. Townsquare Capital LLC now owns 9,568 shares of the medical device company’s stock valued at $641,000 after buying an additional 2,905 shares during the period. Freedom Investment Management Inc. lifted its position in DexCom by 10.2% in the third quarter. Freedom Investment Management Inc. now owns 3,035 shares of the medical device company’s stock valued at $203,000 after buying an additional 281 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in DexCom by 127.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 83,037 shares of the medical device company’s stock worth $5,567,000 after buying an additional 46,527 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DXCM. Morgan Stanley boosted their price target on shares of DexCom from $75.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Cfra Research upgraded DexCom to a “hold” rating in a research note on Friday, March 21st. Citigroup lifted their price objective on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Finally, Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.82.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 13,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the sale, the executive vice president now directly owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jacob Steven Leach sold 2,634 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $228,920.94. Following the transaction, the chief operating officer now owns 268,644 shares in the company, valued at $23,347,850.04. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,009 shares of company stock worth $8,044,178 over the last three months. Insiders own 0.30% of the company’s stock.

DexCom Stock Performance

Shares of DXCM stock opened at $67.74 on Friday. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $141.99. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The company has a market cap of $26.47 billion, a P/E ratio of 47.37, a PEG ratio of 2.30 and a beta of 1.28. The firm has a fifty day moving average price of $82.32 and a 200 day moving average price of $77.07.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. Sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal 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 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.