Merit Financial Group LLC Makes New $228,000 Investment in DexCom, Inc. (NASDAQ:DXCM)

Merit Financial Group LLC purchased a new stake in DexCom, Inc. (NASDAQ:DXCM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,933 shares of the medical device company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently made changes to their positions in DXCM. Jennison Associates LLC increased its position 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 purchasing an additional 6,544,102 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of DexCom by 44.6% in the 3rd 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 last quarter. Two Sigma Advisers LP increased its position in shares of DexCom by 182.7% during 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 buying an additional 739,000 shares during the period. Intech Investment Management LLC raised its stake in DexCom by 2,083.0% during the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock worth $25,967,000 after buying an additional 369,587 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in DexCom by 53.5% during the third quarter. Assenagon Asset Management S.A. now owns 989,740 shares of the medical device company’s stock worth $66,352,000 after buying an additional 345,114 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Activity at DexCom

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

Analyst Ratings Changes

A number of brokerages have commented on DXCM. Raymond James cut their price target on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Canaccord Genuity Group upped their target price on DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Leerink Partners lowered their target price on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wells Fargo & Company increased their price target on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein lifted their price objective on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.29.

DexCom Stock Performance

Shares of DexCom stock opened at $88.75 on Monday. DexCom, Inc. has a 52 week low of $62.34 and a 52 week high of $142.00. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average price of $79.50 and a 200-day moving average price of $77.12. The company has a market cap of $34.67 billion, a PE ratio of 53.14, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12.

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.