Pictet Asset Management Holding SA Has $47.50 Million Stake in DexCom, Inc. $DXCM

Pictet Asset Management Holding SA cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 756,328 shares of the medical device company’s stock after selling 12,448 shares during the quarter. Pictet Asset Management Holding SA owned about 0.20% of DexCom worth $47,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DXCM. Geode Capital Management LLC boosted its stake in DexCom by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company’s stock valued at $727,842,000 after purchasing an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in DexCom by 6.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company’s stock worth $530,897,000 after buying an additional 516,526 shares in the last quarter. Norges Bank acquired a new position in DexCom in the 4th quarter valued at $483,356,000. Invesco Ltd. grew its holdings in shares of DexCom by 14.8% during the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company’s stock worth $352,781,000 after purchasing an additional 686,228 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company’s stock valued at $207,613,000 after purchasing an additional 220,313 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 0.2%

Shares of NASDAQ DXCM opened at $69.98 on Tuesday. The company has a market capitalization of $27.00 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.45. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $89.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. The company’s 50 day moving average price is $67.83 and its 200-day moving average price is $68.12.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.32 earnings per share. DexCom’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at DexCom

In related news, Director Mark G. Foletta sold 4,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $74.13, for a total transaction of $296,520.00. Following the transaction, the director owned 52,852 shares in the company, valued at $3,917,918.76. The trade was a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the sale, the executive vice president owned 95,450 shares of the company’s stock, valued at $7,075,708.50. The trade was a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,694 shares of company stock valued at $3,343,977 over the last ninety days. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

DXCM has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating on shares of DexCom in a report on Tuesday, June 23rd. Canaccord Genuity Group set a $82.00 price objective on DexCom and gave the stock a “buy” rating in a research report on Monday, May 18th. Robert W. Baird set a $80.00 target price on DexCom in a research note on Friday, May 1st. Piper Sandler restated an “overweight” rating and issued a $88.00 price target (up from $75.00) on shares of DexCom in a research note on Monday, June 15th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $91.00 target price on shares of DexCom in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.88.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.