Adage Capital Partners GP L.L.C. Sells 540,000 Shares of DexCom, Inc. $DXCM

Adage Capital Partners GP L.L.C. trimmed its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 97.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,121 shares of the medical device company's stock after selling 540,000 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in DexCom were worth $1,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Investments LLC boosted its position in DexCom by 2.2% during the first quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company's stock worth $383,000 after purchasing an additional 123 shares during the period. Nia Impact Advisors LLC boosted its position in DexCom by 1.4% during the fourth quarter. Nia Impact Advisors LLC now owns 9,850 shares of the medical device company's stock worth $766,000 after purchasing an additional 140 shares during the period. Wedbush Securities Inc. boosted its position in DexCom by 1.2% during the first quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company's stock worth $899,000 after purchasing an additional 157 shares during the period. Argonautica Private Wealth Management Inc. boosted its position in DexCom by 3.2% during the first quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company's stock worth $407,000 after purchasing an additional 182 shares during the period. Finally, Trivium Point Advisory LLC boosted its position in DexCom by 6.1% during the first quarter. Trivium Point Advisory LLC now owns 3,455 shares of the medical device company's stock worth $236,000 after purchasing an additional 200 shares during the period. 97.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DXCM has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. UBS Group boosted their target price on shares of DexCom from $105.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group reissued a "buy" rating and issued a $106.00 target price on shares of DexCom in a research report on Friday, August 1st. Wall Street Zen cut shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Finally, Argus initiated coverage on shares of DexCom in a research report on Thursday, August 21st. They issued a "buy" rating and a $100.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $99.89.

DexCom Price Performance

DXCM traded up $0.22 on Friday, hitting $76.22. 3,054,556 shares of the stock were exchanged, compared to its average volume of 3,987,928. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $93.25. The business has a 50-day moving average of $80.88 and a two-hundred day moving average of $78.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The firm has a market capitalization of $29.89 billion, a price-to-earnings ratio of 52.93, a PEG ratio of 1.59 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. DexCom's revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In related news, Director Kyle Malady sold 667 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the sale, the director owned 22,667 shares of the company's stock, valued at $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $81.06, for a total transaction of $222,915.00. Following the completion of the transaction, the director directly owned 51,121 shares of the company's stock, valued at $4,143,868.26. This trade represents a 5.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,237 shares of company stock valued at $1,263,480 over the last three months. 0.32% of the stock is owned by insiders.

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.