Renaissance Technologies LLC Increases Position in DexCom, Inc. (NASDAQ:DXCM)

Renaissance Technologies LLC grew its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 889,874 shares of the medical device company's stock after purchasing an additional 58,902 shares during the quarter. Renaissance Technologies LLC owned about 0.23% of DexCom worth $69,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of DexCom during the 4th quarter valued at $25,000. Private Trust Co. NA boosted its holdings in DexCom by 266.3% during the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock worth $26,000 after acquiring an additional 245 shares during the last quarter. TD Private Client Wealth LLC increased its stake in DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock valued at $34,000 after buying an additional 167 shares during the last quarter. Larson Financial Group LLC increased its position in shares of DexCom by 40.5% during the fourth quarter. Larson Financial Group LLC now owns 475 shares of the medical device company's stock valued at $37,000 after acquiring an additional 137 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in shares of DexCom during the 4th quarter worth $38,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DXCM shares. Cfra Research raised shares of DexCom to a "hold" rating in a report on Friday, March 21st. Mizuho started coverage on DexCom in a research note on Thursday, April 10th. They issued an "outperform" rating and a $85.00 price objective on the stock. Robert W. Baird upgraded shares of DexCom from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $86.00 to $104.00 in a research report on Thursday, January 16th. Citigroup boosted their price target on shares of DexCom from $101.00 to $104.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a report on Saturday, March 8th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.00.

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Insider Activity

In other DexCom news, CEO Kevin R. Sayer sold 33,359 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the transaction, the chief executive officer now directly owns 319,037 shares of the company's stock, valued at approximately $27,727,505.67. The trade was a 9.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 2,090 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $181,641.90. Following the completion of the sale, the executive vice president now directly owns 83,526 shares of the company's stock, valued at approximately $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,009 shares of company stock valued at $8,044,178. Insiders own 0.30% of the company's stock.

DexCom Price Performance

Shares of NASDAQ DXCM traded up $0.78 during trading hours on Tuesday, reaching $68.17. 1,487,516 shares of the stock traded hands, compared to its average volume of 4,182,776. The company's 50-day simple moving average is $76.49 and its two-hundred day simple moving average is $76.68. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a 52-week low of $57.52 and a 52-week high of $139.24. The company has a market capitalization of $26.73 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.05). DexCom had a net margin of 14.29% and a return on equity of 30.14%. Equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

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.