PNC Financial Services Group Inc. Cuts Holdings in DexCom, Inc. (NASDAQ:DXCM)

PNC Financial Services Group Inc. cut its holdings in DexCom, Inc. (NASDAQ:DXCM) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,412 shares of the medical device company’s stock after selling 16,619 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DexCom were worth $2,575,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DXCM. Canada Pension Plan Investment Board increased its holdings in 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 valued at $75,471,000 after buying an additional 435,401 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of DexCom by 16.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock worth $276,538,000 after acquiring an additional 353,019 shares during the period. Assenagon Asset Management S.A. increased its stake in DexCom by 53.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock valued at $66,352,000 after purchasing an additional 345,114 shares in the last quarter. Magnetar Financial LLC acquired a new position in DexCom during the second quarter worth $31,793,000. Finally, Dimensional Fund Advisors LP boosted its position in DexCom by 41.3% during the second quarter. Dimensional Fund Advisors LP now owns 919,650 shares of the medical device company’s stock worth $104,282,000 after purchasing an additional 268,802 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Price Performance

Shares of DXCM stock opened at $77.83 on Tuesday. The firm has a market cap of $30.40 billion, a P/E ratio of 46.60, a P/E/G ratio of 2.23 and a beta of 1.17. The firm has a fifty day moving average of $70.76 and a two-hundred day moving average of $88.93. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. DexCom, Inc. has a 1-year low of $62.34 and a 1-year high of $142.00.

Insider Buying and Selling

In related news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. This represents a 0.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 4,259 shares of DexCom 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 completion of the transaction, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,431 shares of company stock worth $399,319. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

DXCM has been the subject of a number of research analyst reports. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Royal Bank of Canada cut their target price 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. Oppenheimer reduced 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. Sanford C. Bernstein raised their price objective on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Leerink Partners reduced their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DexCom presently has an average rating of “Moderate Buy” and an average price target of $104.59.

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.