Suvretta Capital Management LLC Increases Stake in DexCom, Inc. (NASDAQ:DXCM)

Suvretta Capital Management LLC increased its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 438.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,680 shares of the medical device company’s stock after buying an additional 25,800 shares during the period. Suvretta Capital Management LLC’s holdings in DexCom were worth $2,124,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its position in shares of DexCom by 5.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,842 shares of the medical device company’s stock valued at $1,196,000 after purchasing an additional 1,000 shares during the last quarter. MIG Capital LLC grew its stake in shares of DexCom by 51.5% during the third quarter. MIG Capital LLC now owns 859,627 shares of the medical device company’s stock worth $57,629,000 after purchasing an additional 292,127 shares in the last quarter. MayTech Global Investments LLC grew its stake in shares of DexCom by 53.6% during the third quarter. MayTech Global Investments LLC now owns 259,257 shares of the medical device company’s stock worth $17,381,000 after purchasing an additional 90,498 shares in the last quarter. FORA Capital LLC purchased a new position in DexCom in the third quarter valued at $6,072,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in DexCom in the third quarter valued at $57,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the transaction, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $29,457.90. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 5,431 shares of company stock valued at $399,319 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on DXCM. Oppenheimer lowered their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Leerink Partners lowered their price target on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on shares of DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada reduced their price objective on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Sanford C. Bernstein increased their target price on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Stock Up 0.2 %

DXCM stock opened at $78.10 on Friday. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The company has a market cap of $30.51 billion, a P/E ratio of 46.77, a P/E/G ratio of 2.39 and a beta of 1.17. The company’s 50-day moving average price is $71.24 and its 200 day moving average price is $88.44.

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.