Merit Financial Group LLC Takes Position in DexCom, Inc. (NASDAQ:DXCM)

Merit Financial Group LLC bought a new position in shares of DexCom, Inc. (NASDAQ:DXCM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,933 shares of the medical device company’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board grew its position in shares of DexCom by 96.3% in the second quarter. Public Sector Pension Investment Board now owns 16,842 shares of the medical device company’s stock valued at $1,910,000 after purchasing an additional 8,261 shares during the last quarter. MBB Public Markets I LLC bought a new stake in DexCom in the 2nd quarter valued at $3,151,000. The Manufacturers Life Insurance Company grew its holdings in DexCom by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 289,824 shares of the medical device company’s stock valued at $32,860,000 after buying an additional 1,998 shares in the last quarter. Legal & General Group Plc increased its position in DexCom by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock worth $339,352,000 after buying an additional 49,076 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of DexCom during the second quarter worth $3,728,000. Institutional investors own 97.75% of the company’s stock.

Insider Transactions at DexCom

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

DexCom Price Performance

DXCM stock opened at $88.75 on Monday. The stock has a market cap of $34.67 billion, a price-to-earnings ratio of 53.14, a P/E/G ratio of 2.23 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The company has a 50 day simple moving average of $79.50 and a 200 day simple moving average of $77.12. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and upped their price target for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Wells Fargo & Company increased their target price on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup lifted their price target on shares of DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Raymond James reduced their price target on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Finally, Baird R W upgraded DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

DexCom 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.