MetLife Investment Management LLC Cuts Position in DexCom, Inc. (NASDAQ:DXCM)

MetLife Investment Management LLC reduced its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 1.6% in the third quarter, HoldingsChannel reports. The firm owned 122,411 shares of the medical device company’s stock after selling 1,967 shares during the period. MetLife Investment Management LLC’s holdings in DexCom were worth $8,206,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in DexCom by 1,683.2% in the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after acquiring an additional 6,544,102 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after purchasing an additional 49,076 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in DexCom by 11.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,734,155 shares of the medical device company’s stock worth $183,298,000 after buying an additional 288,381 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in DexCom by 16.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after buying an additional 353,019 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

Insider Transactions at DexCom

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the transaction, the chief operating officer now owns 264,915 shares in the company, valued at approximately $18,318,872.25. This represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,431 shares of company stock valued at $399,319 in the last 90 days. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DXCM has been the subject of several recent analyst reports. Royal Bank of Canada lowered their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, October 25th. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. JPMorgan Chase & Co. upped their price target on shares of DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on shares of DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, Leerink Partners cut their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.59.

DexCom Stock Down 0.1 %

DexCom stock opened at $77.99 on Friday. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The firm has a market cap of $30.46 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. The business’s 50-day moving average price is $71.39 and its 200 day moving average price is $88.11. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

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.