DexCom, Inc. $DXCM Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services cut its DexCom stake by 85.9% in Q4, selling 4,815,048 shares and retaining 793,427 shares (a 0.20% stake) valued at $52.66 million.
• Despite the large sell-off, analysts remain broadly positive with a consensus "Moderate Buy" and an average target of $86.50, and DexCom recently beat quarterly estimates (EPS $0.68 vs. $0.65; revenue $1.26B, up 13.1% YoY).

Massachusetts Financial Services Co. MA decreased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 85.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 793,427 shares of the medical device company's stock after selling 4,815,048 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.20% of DexCom worth $52,660,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DXCM. Vanguard Group Inc. increased its stake in DexCom by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company's stock worth $3,327,897,000 after buying an additional 1,133,638 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in DexCom by 374.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company's stock worth $195,666,000 after buying an additional 2,294,709 shares in the last quarter. Legal & General Group Plc increased its stake in DexCom by 4.7% during the 3rd quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company's stock worth $177,356,000 after buying an additional 117,493 shares in the last quarter. DSM Capital Partners LLC increased its stake in DexCom by 76.5% during the 3rd quarter. DSM Capital Partners LLC now owns 2,533,539 shares of the medical device company's stock worth $170,482,000 after buying an additional 1,098,243 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in DexCom during the 3rd quarter worth approximately $163,964,000. Institutional investors and hedge funds own 97.75% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BTIG Research reiterated a "buy" rating and set a $85.00 price objective on shares of DexCom in a research note on Monday, March 9th. Weiss Ratings upgraded DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, March 4th. Truist Financial reiterated a "buy" rating and set a $80.00 price objective (down from $82.00) on shares of DexCom in a research note on Tuesday, February 17th. Barclays reiterated an "underweight" rating and set a $72.00 price objective (up from $71.00) on shares of DexCom in a research note on Friday, February 13th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of DexCom in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.50.

Insiders Place Their Bets

In related news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was 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 in the company, valued at approximately $7,321,824.40. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company's stock.

DexCom Trading Down 0.3%

Shares of DexCom stock opened at $62.95 on Wednesday. The firm has a market capitalization of $24.23 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.23 and a beta of 1.55. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88. The stock has a 50 day moving average of $67.84 and a 200 day moving average of $66.83.

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

DexCom Profile

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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