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

Pictet Asset Management Holding SA cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.5% in the 4th quarter, Holdings Channel reports. The fund owned 662,619 shares of the medical device company’s stock after selling 10,420 shares during the quarter. Pictet Asset Management Holding SA’s holdings in DexCom were worth $51,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Forvis Mazars Wealth Advisors LLC raised its stake in shares of DexCom by 0.7% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 17,481 shares of the medical device company’s stock worth $1,359,000 after purchasing an additional 118 shares during the last quarter. Principal Securities Inc. raised its position in DexCom by 3.4% during the 4th quarter. Principal Securities Inc. now owns 4,069 shares of the medical device company’s stock worth $316,000 after buying an additional 135 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of DexCom by 40.5% in the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock worth $37,000 after acquiring an additional 137 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after acquiring an additional 167 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of DexCom by 13.2% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,587 shares of the medical device company’s stock valued at $123,000 after acquiring an additional 185 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Trading Down 2.5 %

Shares of DexCom stock opened at $67.74 on Friday. The business has a 50 day moving average price of $82.32 and a 200 day moving average price of $77.07. The company has a market capitalization of $26.47 billion, a P/E ratio of 47.37, a P/E/G ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $141.99.

DexCom (NASDAQ:DXCM) last issued 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 net margin of 14.29% and a return on equity of 30.14%. Sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DXCM shares. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $115.00 in a research report on Monday, February 3rd. Robert W. Baird raised DexCom from a “neutral” rating to an “outperform” rating and raised their price target for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Morgan Stanley upped their price objective on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Citigroup raised their target price on DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Cfra Research upgraded shares of DexCom to a “hold” rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.82.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the transaction, the executive vice president now owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. This represents a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jacob Steven Leach sold 2,634 shares of DexCom stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $228,920.94. Following the completion of the sale, the chief operating officer now directly owns 268,644 shares of the company’s stock, valued at $23,347,850.04. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,009 shares of company stock valued at $8,044,178 in the last ninety days. Insiders own 0.30% of the company’s stock.

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.