Baillie Gifford & Co. Decreases Stake in DexCom, Inc. $DXCM

Key Points

• Baillie Gifford trimmed its DexCom stake by 2.1% in Q4, selling 329,581 shares and now holds 15,552,587 shares (3.99% of DexCom) valued at about $1.03 billion, making DXCM its 25th largest holding.
• DexCom beat Q4 expectations, reporting $0.68 EPS vs. $0.65 consensus and $1.26 billion revenue (up 13.1% year-over-year), with a 17.94% net margin and 32.12% ROE.
• Brokerages have been raising ratings and targets (Evercore upgraded to "outperform" with a $90 target); the stock's consensus is a "Moderate Buy" with an average price target of $86.50.

Baillie Gifford & Co. decreased its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,552,587 shares of the medical device company's stock after selling 329,581 shares during the period. DexCom accounts for 0.9% of Baillie Gifford & Co.'s investment portfolio, making the stock its 25th biggest holding. Baillie Gifford & Co. owned 3.99% of DexCom worth $1,032,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC purchased a new position in DexCom in the fourth quarter valued at about $213,000. Greenup Street Wealth Management LLC purchased a new stake in shares of DexCom during the 4th quarter worth approximately $2,259,000. Choreo LLC increased its stake in shares of DexCom by 8.5% during the 4th quarter. Choreo LLC now owns 8,593 shares of the medical device company's stock worth $576,000 after purchasing an additional 675 shares during the last quarter. Howard Capital Management Inc. increased its stake in shares of DexCom by 2.3% during the 4th quarter. Howard Capital Management Inc. now owns 9,128 shares of the medical device company's stock worth $606,000 after purchasing an additional 206 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its stake in shares of DexCom by 13.3% during the 4th quarter. Personal CFO Solutions LLC now owns 4,378 shares of the medical device company's stock worth $291,000 after purchasing an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.85, for a total value of $110,245.00. Following the completion of the transaction, the executive vice president directly owned 112,904 shares of the company's stock, valued at $7,321,824.40. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

DexCom Price Performance

DexCom stock opened at $64.02 on Monday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The firm has a market capitalization of $24.64 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 1.25 and a beta of 1.55. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $68.20 and a 200 day simple moving average of $66.89.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business earned $0.45 EPS. DexCom's revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DXCM. Evercore upgraded shares of DexCom from an "in-line" rating to an "outperform" rating and set a $90.00 price target for the company in a research note on Tuesday, March 24th. Leerink Partners restated an "outperform" rating and set a $92.00 price target on shares of DexCom in a research note on Tuesday, December 16th. Sanford C. Bernstein restated an "outperform" rating and set a $86.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, January 9th. Weiss Ratings upgraded shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, March 4th. Finally, Citigroup raised their price target on shares of DexCom from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $86.50.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

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