Pinnacle Financial Partners Inc Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Pinnacle Financial Partners Inc reduced its position in DexCom, Inc. (NASDAQ:DXCM) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,337 shares of the medical device company’s stock after selling 5,612 shares during the period. Pinnacle Financial Partners Inc’s holdings in DexCom were worth $3,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in DexCom in the fourth quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in DexCom during the fourth quarter valued at approximately $38,000. RPg Family Wealth Advisory LLC bought a new position in DexCom in the third quarter worth approximately $57,000. Covestor Ltd boosted its stake in shares of DexCom by 53.7% during the 3rd quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock worth $64,000 after acquiring an additional 335 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of DexCom by 46.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 833 shares of the medical device company’s stock worth $65,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

Insider Activity at DexCom

In other DexCom news, COO Jacob Steven Leach sold 2,634 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total transaction of $228,920.94. Following the transaction, the chief operating officer now owns 268,644 shares in the company, valued at $23,347,850.04. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin R. Sayer sold 33,359 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the completion of the sale, the chief executive officer now owns 319,037 shares of the company’s stock, valued at $27,727,505.67. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,083 shares of company stock valued at $3,309,794 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DXCM shares. Wells Fargo & Company upped their price objective on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Citigroup raised their price objective on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group upped their price target on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.06.

DexCom Price Performance

NASDAQ:DXCM opened at $88.78 on Friday. The company has a market capitalization of $34.69 billion, a P/E ratio of 62.08, a P/E/G ratio of 2.30 and a beta of 1.14. The business’s 50-day moving average is $83.50 and its 200 day moving average is $76.06. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a 12 month low of $62.34 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. On average, equities research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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.