MetLife Investment Management LLC Cuts Stake in DexCom, Inc. (NASDAQ:DXCM)

MetLife Investment Management LLC lessened its stake in DexCom, Inc. (NASDAQ:DXCM) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,411 shares of the medical device company’s stock after selling 1,967 shares during the quarter. MetLife Investment Management LLC’s holdings in DexCom were worth $8,206,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DXCM. Migdal Insurance & Financial Holdings Ltd. bought a new position in DexCom during the second quarter valued at approximately $25,000. Sachetta LLC raised its holdings in shares of DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after acquiring an additional 171 shares in the last quarter. Riverview Trust Co boosted its position in shares of DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 232 shares during the last quarter. DT Investment Partners LLC grew its holdings in shares of DexCom by 492.2% in the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 315 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in DexCom in the third quarter worth $57,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Price Performance

DexCom stock opened at $77.99 on Friday. 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 stock has a market cap of $30.46 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. The firm has a 50-day moving average of $71.39 and a two-hundred day moving average of $88.11. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00.

Insider Activity

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,431 shares of company stock valued at $399,319. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DXCM. Sanford C. Bernstein lifted 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. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Leerink Partners reduced their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Robert W. Baird raised their price objective on DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $90.00 target price on shares of DexCom in a research report on Monday, August 26th. Seven equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.59.

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.