Granite Investment Partners LLC boosted its stake in shares of DexCom, Inc. (NASDAQ:DXCM) by 42.7% in the 4th quarter, HoldingsChannel reports. The fund owned 169,705 shares of the medical device company’s stock after buying an additional 50,811 shares during the period. Granite Investment Partners LLC’s holdings in DexCom were worth $9,739,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Janus Henderson Group PLC raised its position in DexCom by 29.2% during the third quarter. Janus Henderson Group PLC now owns 8,819,825 shares of the medical device company’s stock valued at $431,510,000 after acquiring an additional 1,991,094 shares in the last quarter. Brown Advisory Inc. raised its position in DexCom by 57.2% during the third quarter. Brown Advisory Inc. now owns 4,165,522 shares of the medical device company’s stock valued at $203,798,000 after acquiring an additional 1,515,134 shares in the last quarter. JPMorgan Chase & Co. raised its position in DexCom by 143.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,507 shares of the medical device company’s stock valued at $107,170,000 after acquiring an additional 7,738,678 shares in the last quarter. State Street Corp raised its position in DexCom by 2.5% during the second quarter. State Street Corp now owns 1,549,843 shares of the medical device company’s stock valued at $113,374,000 after acquiring an additional 37,581 shares in the last quarter. Finally, AXA raised its position in DexCom by 10.5% during the third quarter. AXA now owns 1,318,931 shares of the medical device company’s stock valued at $64,529,000 after acquiring an additional 124,920 shares in the last quarter.
Shares of DexCom, Inc. (DXCM) opened at $57.87 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.86 and a quick ratio of 5.50. DexCom, Inc. has a 1-year low of $42.62 and a 1-year high of $86.32. The company has a market capitalization of $5,057.76 and a P/E ratio of -101.52.
Several research analysts recently weighed in on DXCM shares. TheStreet cut DexCom from a “c-” rating to a “d+” rating in a research report on Wednesday, October 25th. BidaskClub upgraded DexCom from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 4th. Morgan Stanley reduced their price target on DexCom from $72.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Northland Securities reiterated a “hold” rating and set a $50.00 price target on shares of DexCom in a research report on Thursday, November 2nd. Finally, Zacks Investment Research cut DexCom from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.50.
In other news, EVP Andrew K. Balo sold 6,490 shares of DexCom stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total value of $389,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Terrance H. Gregg sold 10,000 shares of DexCom stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $56.86, for a total value of $568,600.00. Following the completion of the sale, the insider now directly owns 484,559 shares in the company, valued at $27,552,024.74. The disclosure for this sale can be found here. Insiders sold 48,140 shares of company stock worth $2,743,281 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.
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Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.
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