Jennison Associates LLC Has $65.82 Million Stock Holdings in DexCom, Inc. $DXCM

Jennison Associates LLC reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 81.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,048,097 shares of the medical device company’s stock after selling 4,741,847 shares during the period. Jennison Associates LLC owned 0.27% of DexCom worth $65,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. California Public Employees Retirement System increased its position in DexCom by 21.3% in the 1st quarter. California Public Employees Retirement System now owns 637,344 shares of the medical device company’s stock valued at $40,025,000 after buying an additional 111,931 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in DexCom by 513.8% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,375 shares of the medical device company’s stock worth $86,000 after buying an additional 1,151 shares during the period. Assetmark Inc. boosted its holdings in DexCom by 12.4% in the first quarter. Assetmark Inc. now owns 161,368 shares of the medical device company’s stock worth $10,134,000 after acquiring an additional 17,750 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. grew its stake in DexCom by 79.8% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 30,492 shares of the medical device company’s stock valued at $1,915,000 after acquiring an additional 13,533 shares during the period. Finally, Bessemer Group Inc. grew its stake in DexCom by 14.9% in the first quarter. Bessemer Group Inc. now owns 9,380 shares of the medical device company’s stock valued at $590,000 after acquiring an additional 1,218 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Price Performance

DXCM stock opened at $76.65 on Monday. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average is $71.16 and its 200-day moving average is $68.74. The firm has a market capitalization of $29.58 billion, a PE ratio of 32.76, a P/E/G ratio of 1.26 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on DXCM. Truist Financial boosted their price objective on DexCom from $80.00 to $87.00 and gave the company a “buy” rating in a report on Thursday. UBS Group set a $95.00 price target on shares of DexCom in a research report on Wednesday, June 10th. Canaccord Genuity Group set a $82.00 price target on shares of DexCom and gave the company a “buy” rating in a research note on Monday, May 18th. Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Finally, Barclays reaffirmed an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.36.

Insider Activity

In other news, Director Mark G. Foletta sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director owned 52,852 shares in the company, valued at $3,917,918.76. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,912 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total transaction of $358,576.00. Following the transaction, the executive vice president directly owned 100,361 shares in the company, valued at $7,326,353. The trade was a 4.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 71,750 shares of company stock worth $5,163,241. Company insiders own 0.28% of the company’s stock.

DexCom Company 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.