Empire Life Investments Inc. Buys New Position in DexCom, Inc. (NASDAQ:DXCM)

Empire Life Investments Inc. acquired a new position in DexCom, Inc. (NASDAQ:DXCM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 83,726 shares of the medical device company's stock, valued at approximately $5,613,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DXCM. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of DexCom during the 2nd quarter worth $25,000. Sachetta LLC boosted its position in DexCom by 255.2% during the second quarter. Sachetta LLC now owns 238 shares of the medical device company's stock worth $27,000 after purchasing an additional 171 shares during the period. Crewe Advisors LLC purchased a new position in shares of DexCom in the first quarter worth about $29,000. Riverview Trust Co raised its position in shares of DexCom by 100.4% in the third quarter. Riverview Trust Co now owns 463 shares of the medical device company's stock valued at $31,000 after purchasing an additional 232 shares during the period. Finally, DT Investment Partners LLC lifted its stake in shares of DexCom by 492.2% during the 2nd quarter. DT Investment Partners LLC now owns 379 shares of the medical device company's stock valued at $43,000 after buying an additional 315 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DexCom

In other news, COO Jacob Steven Leach sold 746 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares of the company's stock, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Jacob Steven Leach sold 746 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 $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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 426 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares of the company's stock, valued at $5,217,436.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Baird R W lowered shares of DexCom from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. UBS Group decreased their price objective on DexCom from $163.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, July 26th. BTIG Research cut their target price on DexCom from $156.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, July 26th. Sanford C. Bernstein upped their price target on DexCom from $82.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $145.00 price objective on shares of DexCom in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $104.59.

DexCom Price Performance

NASDAQ DXCM traded down $0.13 on Friday, reaching $70.35. 2,735,060 shares of the company's stock traded hands, compared to its average volume of 4,931,501. The stock has a market cap of $27.48 billion, a PE ratio of 42.13, a P/E/G ratio of 2.16 and a beta of 1.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00. The stock has a 50-day simple moving average of $69.85 and a 200 day simple moving average of $95.37.

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.