Baillie Gifford & Co. Decreases Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Baillie Gifford & Co. reduced its stake in DexCom, Inc. by 3.0%, owning 14,179,830 shares after selling 432,962 shares in the first quarter, equating to about 0.8% of their holdings.
• Several institutional investors, including Norges Bank and Jennison Associates LLC, have made significant investments in DexCom recently, showcasing increased interest in the medical device company's stock.
• Analysts have varying ratings for DexCom, with 17 buy ratings, 4 holds, and 2 strong buys, indicating a consensus price target of $99.60 amidst mixed price objectives from different firms.

Baillie Gifford & Co. lessened its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,179,830 shares of the medical device company's stock after selling 432,962 shares during the quarter. DexCom comprises about 0.8% of Baillie Gifford & Co.'s holdings, making the stock its 27th largest holding. Baillie Gifford & Co. owned approximately 3.62% of DexCom worth $968,341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of DexCom during the 4th quarter valued at approximately $385,367,000. Jennison Associates LLC boosted its stake in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after buying an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of DexCom by 171.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock valued at $218,175,000 after buying an additional 2,015,971 shares during the last quarter. Woodline Partners LP purchased a new position in shares of DexCom during the 4th quarter valued at approximately $63,338,000. Finally, Northern Trust Corp boosted its stake in shares of DexCom by 22.2% during the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock valued at $322,454,000 after buying an additional 753,857 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company's stock.

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 10,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $84.28, for a total transaction of $842,800.00. Following the completion of the transaction, the executive vice president owned 95,602 shares of the company's stock, valued at $8,057,336.56. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nicholas Augustinos sold 3,672 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total value of $304,041.60. Following the transaction, the director directly owned 33,411 shares of the company's stock, valued at $2,766,430.80. This represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,190 shares of company stock worth $2,281,732. Corporate insiders own 0.32% of the company's stock.

Analyst Ratings Changes

DXCM has been the subject of several research analyst reports. Canaccord Genuity Group increased their target price on DexCom from $103.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Robert W. Baird reduced their price objective on DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded DexCom from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Citigroup restated a "buy" rating and set a $102.00 price objective (up from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Finally, Mizuho raised their price objective on DexCom from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, DexCom has an average rating of "Moderate Buy" and a consensus price target of $99.60.

DexCom Price Performance

Shares of DXCM opened at $86.74 on Friday. The firm has a market capitalization of $34.01 billion, a price-to-earnings ratio of 64.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 1.50. DexCom, Inc. has a one year low of $57.52 and a one year high of $112.55. The stock's fifty day moving average is $84.51 and its 200-day moving average is $80.34.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. DexCom's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. Equities analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current 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.

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