Everence Capital Management Inc. Cuts Stake in DexCom, Inc. (NASDAQ:DXCM)

Everence Capital Management Inc. cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 43.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,530 shares of the medical device company’s stock after selling 8,940 shares during the quarter. Everence Capital Management Inc.’s holdings in DexCom were worth $897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Jennison Associates LLC boosted its holdings in DexCom by 1,683.2% during the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after acquiring an additional 6,544,102 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of DexCom by 44.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares during the period. Two Sigma Advisers LP grew its holdings in shares of DexCom by 182.7% in the third quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after purchasing an additional 739,000 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of DexCom by 189.1% in the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares during the period. Finally, Intech Investment Management LLC raised its holdings in DexCom by 2,083.0% during the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after buying an additional 369,587 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Performance

Shares of DXCM stock opened at $81.07 on Friday. The company has a market capitalization of $31.67 billion, a price-to-earnings ratio of 48.55, a price-to-earnings-growth ratio of 2.46 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00. The company’s 50-day moving average is $76.12 and its 200 day moving average is $80.54.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DXCM shares. Oppenheimer cut their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Leerink Partners reduced their price target on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada dropped their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company boosted their target price on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Insider Activity

In related news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.