OMERS ADMINISTRATION Corp Lowers Stock Position in DexCom, Inc. (NASDAQ:DXCM)

OMERS ADMINISTRATION Corp cut its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,130 shares of the medical device company's stock after selling 3,425 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in DexCom were worth $2,032,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in DexCom by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company's stock worth $775,256,000 after acquiring an additional 56,094 shares in the last quarter. Jennison Associates LLC grew its stake in shares of DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company's stock worth $594,455,000 after purchasing an additional 710,858 shares in the last quarter. Norges Bank purchased a new position in DexCom in the fourth quarter valued at $385,367,000. Northern Trust Corp increased its holdings in DexCom by 22.2% in the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after buying an additional 753,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in DexCom by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,825,206 shares of the medical device company's stock valued at $219,716,000 after buying an additional 91,051 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Performance

DXCM traded down $1.62 during trading on Wednesday, hitting $85.72. The stock had a trading volume of 426,267 shares, compared to its average volume of 4,343,697. The firm has a market capitalization of $33.61 billion, a P/E ratio of 59.94, a PEG ratio of 2.30 and a beta of 1.43. The company's 50-day moving average price is $72.71 and its 200 day moving average price is $77.87. DexCom, Inc. has a twelve month low of $57.52 and a twelve month high of $131.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. DexCom had a return on equity of 30.14% and a net margin of 14.29%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other DexCom news, COO Jacob Steven Leach sold 14,076 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $990,668.88. Following the completion of the transaction, the chief operating officer now directly owns 313,497 shares in the company, valued at approximately $22,063,918.86. The trade was a 4.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin R. Sayer sold 32,498 shares of DexCom stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $2,287,209.24. Following the completion of the sale, the chief executive officer now owns 372,029 shares of the company's stock, valued at $26,183,401.02. This trade represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,926 shares of company stock worth $4,734,384 in the last ninety days. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DXCM shares. Piper Sandler lowered their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley upped their price target on DexCom from $75.00 to $82.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Redburn Atlantic raised shares of DexCom from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Robert W. Baird reduced their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group increased their target price on shares of DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $98.11.

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.