DSM Capital Partners LLC Has $120.82 Million Holdings in DexCom, Inc. $DXCM

Key Points

• DSM Capital Partners reduced its DexCom stake by 18.3% in the first quarter, but still held 1.92 million shares worth about $120.8 million at quarter-end. DexCom remained one of the fund’s larger positions, representing about 2.1% of its portfolio.
• DexCom reported better-than-expected quarterly results, posting EPS of $0.56 versus the $0.47 consensus and revenue of $1.19 billion versus $1.17 billion expected. Revenue rose 15% year over year, and analysts now expect full-year EPS of 2.57.
• Despite strong fundamentals, there has been some insider selling and mixed price-target moves from analysts. Shares were up slightly on the day, and Wall Street’s consensus rating remains Moderate Buy with a price target of $84.88.

DSM Capital Partners LLC lessened its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 18.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,923,820 shares of the medical device company's stock after selling 431,273 shares during the quarter. DexCom accounts for approximately 2.1% of DSM Capital Partners LLC's investment portfolio, making the stock its 14th biggest holding. DSM Capital Partners LLC owned 0.50% of DexCom worth $120,816,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont increased its stake in DexCom by 14.8% in the 4th quarter. Trust Co. of Vermont now owns 1,122 shares of the medical device company's stock valued at $74,000 after buying an additional 145 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company's stock valued at $30,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of DexCom by 1.8% in the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company's stock valued at $604,000 after acquiring an additional 172 shares during the last quarter. Essex Financial Services Inc. increased its position in shares of DexCom by 5.7% in the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company's stock valued at $204,000 after acquiring an additional 175 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in DexCom by 24.7% in the third quarter. IFP Advisors Inc now owns 900 shares of the medical device company's stock valued at $61,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Stock Up 0.7%

DXCM opened at $74.06 on Thursday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The stock's fifty day simple moving average is $68.99 and its 200 day simple moving average is $68.34. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock has a market cap of $28.58 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. As a group, research analysts expect that DexCom, Inc. will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In other DexCom news, insider Kevin R. Sayer sold 26,759 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the transaction, the insider directly owned 382,482 shares of the company's stock, valued at $27,538,704. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bridgette P. Heller sold 1,012 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the sale, the director owned 25,007 shares of the company's stock, valued at $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 73,450 shares of company stock worth $5,270,409 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Bank of America cut their price objective on DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a report on Monday, May 18th. Piper Sandler restated an "overweight" rating and set a $88.00 target price (up from $75.00) on shares of DexCom in a report on Monday, June 15th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $91.00 price target on shares of DexCom in a research report on Monday, June 8th. William Blair upgraded shares of DexCom to a "strong-buy" rating in a research note on Friday, May 15th. Finally, Mizuho set a $85.00 price objective on shares of DexCom and gave the company an "outperform" rating in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.88.

DexCom Company 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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