M&T Bank Corp Decreases Stake in DexCom, Inc. (NASDAQ:DXCM)

M&T Bank Corp lowered its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,843 shares of the medical device company's stock after selling 11,189 shares during the quarter. M&T Bank Corp's holdings in DexCom were worth $2,470,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Blue Whale Capital LLP boosted its stake in DexCom by 91.9% in the third quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company's stock valued at $15,821,000 after acquiring an additional 113,000 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in DexCom by 51.6% in the third quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company's stock worth $2,182,000 after acquiring an additional 11,075 shares in the last quarter. Brooktree Capital Management purchased a new stake in shares of DexCom during the third quarter worth about $683,000. National Pension Service grew its stake in shares of DexCom by 4.1% during the third quarter. National Pension Service now owns 949,743 shares of the medical device company's stock worth $63,671,000 after acquiring an additional 37,363 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of DexCom during the third quarter valued at about $650,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

DexCom Price Performance

Shares of DexCom stock traded down $1.74 on Friday, reaching $77.19. The company's stock had a trading volume of 2,956,879 shares, compared to its average volume of 3,884,590. The company has a market capitalization of $30.15 billion, a P/E ratio of 46.22, a PEG ratio of 2.46 and a beta of 1.12. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The stock has a 50-day moving average price of $73.76 and a 200-day moving average price of $84.65. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

Insiders Place Their Bets

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the transaction, the executive vice president now owns 71,192 shares of the company's stock, valued at $5,320,178.16. This 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 through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DXCM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of DexCom from $75.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Royal Bank of Canada decreased their target price on DexCom from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Leerink Partners cut their price objective on shares of DexCom from $90.00 to $87.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Canaccord Genuity Group boosted their target price on shares of DexCom from $89.00 to $99.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Oppenheimer cut their price target on DexCom from $115.00 to $105.00 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

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.