M&T Bank Corp Increases Stake in DexCom, Inc. (NASDAQ:DXCM)

M&T Bank Corp lifted its stake in DexCom, Inc. (NASDAQ:DXCM) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,780 shares of the medical device company’s stock after purchasing an additional 937 shares during the quarter. M&T Bank Corp’s holdings in DexCom were worth $2,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DXCM. Versant Capital Management Inc purchased a new position in DexCom during the 4th quarter worth approximately $25,000. Private Trust Co. NA raised its position in DexCom by 266.3% during the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock worth $26,000 after buying an additional 245 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in DexCom during the 4th quarter worth approximately $38,000. SBI Securities Co. Ltd. purchased a new position in DexCom during the 4th quarter worth approximately $49,000. Finally, Midwest Capital Advisors LLC purchased a new position in DexCom during the 4th quarter worth approximately $54,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In other news, EVP Jereme M. Sylvain sold 2,090 shares of the company’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 $181,641.90. Following the completion of the sale, the executive vice president now owns 83,526 shares of the company’s stock, valued at $7,259,244.66. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at $27,727,505.67. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,083 shares of company stock valued at $3,309,794 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

DXCM has been the subject of a number of recent research reports. Redburn Atlantic raised shares of DexCom from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $115.00 in a research report on Monday, February 3rd. Morgan Stanley raised their price target on shares of DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Wells Fargo & Company lifted their target price on shares of DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Finally, Citigroup lifted their target price on shares of DexCom from $101.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.82.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $77.84 on Friday. The firm has a market cap of $30.42 billion, a PE ratio of 54.43, a PEG ratio of 2.30 and a beta of 1.28. The firm has a fifty day moving average of $84.83 and a 200 day moving average of $76.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, February 13th. The medical device company reported $0.45 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%. As a group, research analysts predict that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.