Beacon Investment Advisory Services Inc. Has $49.21 Million Stake in DexCom, Inc. (NASDAQ:DXCM)

Beacon Investment Advisory Services Inc. lessened its stake in DexCom, Inc. (NASDAQ:DXCM) by 8.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 632,728 shares of the medical device company’s stock after selling 56,138 shares during the quarter. DexCom makes up approximately 2.1% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 9th biggest position. Beacon Investment Advisory Services Inc.’s holdings in DexCom were worth $49,207,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. 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 worth $464,782,000 after buying an additional 6,544,102 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake 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 valued at $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock valued at $76,659,000 after purchasing an additional 739,000 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of DexCom by 2,083.0% during the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after purchasing an additional 369,587 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in DexCom by 53.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock worth $66,352,000 after purchasing an additional 345,114 shares during the period. Institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $86.00 to $104.00 in a research report on Thursday, January 16th. Canaccord Genuity Group boosted their price objective on DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Oppenheimer lowered their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average target price of $99.29.

DexCom Stock Performance

Shares of DexCom stock opened at $87.09 on Thursday. The business has a fifty day simple moving average of $78.70 and a two-hundred day simple moving average of $77.37. The firm has a market capitalization of $34.02 billion, a P/E ratio of 52.15, a P/E/G ratio of 2.26 and a beta of 1.12. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom Company 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.