Sumitomo Mitsui Trust Group Inc. Acquires 55,542 Shares of DexCom, Inc. (NASDAQ:DXCM)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 6.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 949,565 shares of the medical device company's stock after acquiring an additional 55,542 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of DexCom worth $63,659,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in DexCom in the second quarter valued at $25,000. Sachetta LLC grew its holdings in shares of DexCom by 255.2% during the 2nd 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 acquired a new stake in DexCom during the 1st quarter worth approximately $29,000. Riverview Trust Co increased its position in DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company's stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in DexCom by 492.2% in the second 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 during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 426 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jacob Steven Leach sold 746 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DXCM. Canaccord Genuity Group reiterated a "buy" rating and issued a $145.00 price target on shares of DexCom in a report on Tuesday, July 23rd. Morgan Stanley reduced their price target on DexCom from $120.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, July 26th. Baird R W downgraded shares of DexCom from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 26th. BTIG Research dropped their price objective on shares of DexCom from $156.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, July 26th. Finally, Piper Sandler restated an "overweight" rating and issued a $90.00 target price on shares of DexCom in a research note on Monday, August 26th. Seven equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.59.

DexCom Price Performance

DexCom stock traded up $1.20 on Friday, reaching $75.88. The company's stock had a trading volume of 6,878,859 shares, compared to its average volume of 3,934,491. The business's fifty day moving average price is $69.89 and its 200 day moving average price is $92.01. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The company has a market cap of $29.64 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 2.22 and a beta of 1.17. DexCom, Inc. has a twelve month low of $62.34 and a twelve 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.