Engineers Gate Manager LP Takes Position in DexCom, Inc. (DXCM)

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Engineers Gate Manager LP bought a new position in DexCom, Inc. (NASDAQ:DXCM) in the third quarter, HoldingsChannel.com reports. The firm bought 21,461 shares of the medical device company’s stock, valued at approximately $3,070,000.

Other hedge funds have also recently modified their holdings of the company. Waddell & Reed Financial Inc. raised its stake in shares of DexCom by 164.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 569,331 shares of the medical device company’s stock valued at $54,075,000 after buying an additional 354,331 shares during the last quarter. UBS Group AG raised its stake in shares of DexCom by 76.3% during the 1st quarter. UBS Group AG now owns 15,926 shares of the medical device company’s stock valued at $1,181,000 after buying an additional 6,890 shares during the last quarter. BlackRock Inc. raised its stake in shares of DexCom by 5.9% during the 2nd quarter. BlackRock Inc. now owns 4,116,421 shares of the medical device company’s stock valued at $390,978,000 after buying an additional 228,933 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of DexCom by 14.4% during the 2nd quarter. Macquarie Group Ltd. now owns 236,341 shares of the medical device company’s stock valued at $22,448,000 after buying an additional 29,825 shares during the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of DexCom by 97.1% during the 2nd quarter. Federated Investors Inc. PA now owns 460,209 shares of the medical device company’s stock valued at $43,710,000 after buying an additional 226,740 shares during the last quarter.

NASDAQ:DXCM opened at $130.84 on Tuesday. DexCom, Inc. has a 52 week low of $48.90 and a 52 week high of $148.56. The company has a quick ratio of 4.62, a current ratio of 4.89 and a debt-to-equity ratio of 0.69.

In related news, EVP Andrew K. Balo sold 5,000 shares of DexCom stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $124.79, for a total value of $623,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven Robert Pacelli sold 3,114 shares of DexCom stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $128.85, for a total value of $401,238.90. The disclosure for this sale can be found here. Insiders have sold a total of 170,392 shares of company stock worth $23,416,280 over the last 90 days. Insiders own 1.80% of the company’s stock.

A number of equities analysts have weighed in on DXCM shares. BMO Capital Markets lifted their price objective on DexCom to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. BidaskClub lowered DexCom from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 18th. Raymond James lifted their price objective on DexCom from $125.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, October 23rd. Bank of America lifted their price objective on DexCom from $106.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Berenberg Bank upgraded DexCom from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Monday, August 6th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $129.06.

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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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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Institutional Ownership by Quarter for DexCom (NASDAQ:DXCM)

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