AGF Management Ltd. Makes New $657,000 Investment in DexCom, Inc. $DXCM

AGF Management Ltd. bought a new position in DexCom, Inc. (NASDAQ:DXCM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,758 shares of the medical device company’s stock, valued at approximately $657,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in DexCom by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 48,322,405 shares of the medical device company’s stock valued at $4,218,063,000 after purchasing an additional 866,506 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of DexCom by 9.4% in the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after buying an additional 994,300 shares during the period. Geode Capital Management LLC boosted its stake in shares of DexCom by 3.4% in the second quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after buying an additional 358,617 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in DexCom by 106.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after acquiring an additional 3,410,858 shares during the period. Finally, Norges Bank purchased a new position in DexCom in the second quarter worth $453,279,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,012 shares of DexCom stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $58.07, for a total transaction of $58,766.84. Following the completion of the sale, the director owned 27,031 shares in the company, valued at approximately $1,569,690.17. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Alexander Collins sold 2,906 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $59.05, for a total transaction of $171,599.30. Following the completion of the transaction, the director directly owned 35,088 shares of the company’s stock, valued at approximately $2,071,946.40. This represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,866 shares of company stock valued at $448,177 over the last quarter. Insiders own 0.32% of the company’s stock.

DexCom Price Performance

DXCM stock opened at $69.89 on Friday. The stock’s 50 day moving average price is $68.54 and its 200 day moving average price is $70.50. The firm has a market cap of $27.26 billion, a P/E ratio of 38.83, a PEG ratio of 1.27 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.56. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $93.25.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DXCM shares. Barclays lowered shares of DexCom from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $80.00 to $71.00 in a research report on Monday, January 12th. BTIG Research dropped their target price on shares of DexCom from $109.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wall Street Zen lowered DexCom from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Piper Sandler reaffirmed an “overweight” rating on shares of DexCom in a research note on Thursday. Finally, Truist Financial reaffirmed a “buy” rating and set a $82.00 price objective (down from $94.00) on shares of DexCom in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

About DexCom

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.