Lord Abbett & CO. LLC Decreases Stake in DexCom, Inc. (NASDAQ:DXCM)

Lord Abbett & CO. LLC lessened its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 100.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,670 shares of the medical device company's stock after selling 23,004,568 shares during the quarter. Lord Abbett & CO. LLC's holdings in DexCom were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of DexCom by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company's stock worth $664,056,000 after buying an additional 214,136 shares during the period. Jennison Associates LLC lifted its holdings in DexCom by 1,683.2% during 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 purchasing an additional 6,544,102 shares in the last quarter. Legal & General Group Plc boosted its position in shares of DexCom by 1.7% in the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company's stock worth $339,352,000 after purchasing an additional 49,076 shares during the period. Groupama Asset Managment increased its stake in shares of DexCom by 1.1% in the third quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company's stock worth $1,912,000 after purchasing an additional 31,358 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of DexCom by 44.6% during 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 during the period. Institutional investors own 97.75% of the company's stock.

Insider Transactions at DexCom

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the sale, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company's stock.

DexCom Stock Up 1.8 %

DXCM stock traded up $1.39 during trading on Tuesday, hitting $77.80. 3,613,551 shares of the company's stock traded hands, compared to its average volume of 3,884,019. The business has a fifty day simple moving average of $73.91 and a two-hundred day simple moving average of $83.75. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $30.39 billion, a P/E ratio of 45.75, a PEG ratio of 2.46 and a beta of 1.12. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DXCM. Royal Bank of Canada decreased their target price on DexCom from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Canaccord Genuity Group raised their price target on DexCom from $89.00 to $99.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price objective on shares of DexCom from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Raymond James lowered their target price on shares of DexCom from $115.00 to $99.00 and set a "strong-buy" rating for the company in a report on Friday, October 25th. Finally, Piper Sandler reissued an "overweight" rating and issued a $90.00 price objective on shares of DexCom in a research report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

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.