Deerfield Management Co Significantly Raises Its Holdings in Dexcom (DXCM) Last Quarter

Cornelia Mascio
Novembre 15, 2017

The firm owned 424,956 shares of the medical device company's stock after selling 156,714 shares during the quarter. On November 2 Northland Securities maintained a stock rating of "Hold" with a current price target of $50.00. Wedbush restated a buy rating and set a $76.00 target price on shares of DexCom in a report on Wednesday, October 4th. Robert W. Baird restated a hold rating and set a $79.00 target price on shares of DexCom in a report on Sunday, September 10th.

Sei Investments Co. lowered its holdings in shares of DexCom, Inc. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock.

The company is so far trading down since yesterday's close of 51.55. Janus Henderson Group PLC now owns 6,828,731 shares of the medical device company's stock valued at $499,522,000 after acquiring an additional 6,822,023 shares during the period. Days to cover increased 2.0 to 5.0 and the percentage of shorted shares was 0.15% on October 13.

DexCom, Inc. has a fifty-two week low of $42.62 and a fifty-two week high of $88.80.

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Morgan Stanley lowered the price target of the stock on November 3 cutting the projection from $72.00 to $52.00 with a "Neutral" recommendation.

In other DexCom news, EVP Richard Doubleday sold 1,635 shares of the business's stock in a transaction dated Wednesday, August 23rd. The total value of its holdings decreased 35.8%. Following the completion of the transaction, the director now directly owns 4,353 shares of the company's stock, valued at approximately $215,952.33. The shares were sold at an average price of $81.95, for a total transaction of $844,085.00. The disclosure for this sale can be found here. The stock experienced a rise in short interest of 6.17% as of October 13, 2017 from the last reporting period. Corporate insiders own 1.70% of the company's stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DXCM. As of quarter end AXA had acquired a total of 124,920 shares growing its stake by 10.5%.

Deerfield Management Co reports that it increased its investment in Dexcom stock by 1,172,070 shares in its quarterly SEC filing. LLC increased its stake in shares of DexCom by 118.9% in the third quarter. The value of the company's investment in Dexcom went from $87,342,000 to $64,529,000 a change of $22,813,000 since the last quarter. FDx Advisors Inc. raised its position in DexCom by 47.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,821,102 shares of the medical device company's stock valued at $498,963,000 after acquiring an additional 224,808 shares in the last quarter. BlackRock Inc. grew its stake in DexCom by 5.5% during the 2nd quarter. BlackRock Inc. now owns 4,391,404 shares of the medical device company's stock valued at $321,232,000 after acquiring an additional 230,542 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in DexCom by 57.2% during the 3rd quarter. FDx Advisors Inc. now owns 17,307 shares of the medical device company's stock valued at $847,000 after buying an additional 5,576 shares during the last quarter.

Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring systems for ambulatory use by people with diabetes and for use by healthcare providers for the treatment of people with and without diabetes. The Company's products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.

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