Fisher Asset Management LLC Sells 23,056 Shares of DexCom, Inc. $DXCM

Key Points

• Fisher Asset Management trimmed its stake in DexCom by 8.0%, selling 23,056 shares and leaving it with 263,564 shares valued at about $17.74 million at quarter-end.
• Other large institutions made sizable moves — Norges Bank opened a new stake worth roughly $453.3 million, while Groupama, MFS, Marshall Wace and Federated Hermes significantly increased holdings — leaving institutional investors owning about 97.75% of the stock.
• DexCom posted a modest beat for the quarter (EPS $0.68 vs. $0.65; revenue $1.26B, up 13.1% YoY), and analysts hold a consensus of “Moderate Buy” with an average target of $85.18.

Fisher Asset Management LLC lowered its stake in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,564 shares of the medical device company's stock after selling 23,056 shares during the period. Fisher Asset Management LLC owned 0.07% of DexCom worth $17,735,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in DexCom in the second quarter worth $453,279,000. Groupama Asset Managment grew its stake in shares of DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company's stock worth $350,601,000 after acquiring an additional 4,011,438 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of DexCom by 106.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company's stock worth $576,610,000 after acquiring an additional 3,410,858 shares during the period. Marshall Wace LLP increased its holdings in DexCom by 260.7% in the 2nd quarter. Marshall Wace LLP now owns 3,822,085 shares of the medical device company's stock worth $333,630,000 after acquiring an additional 2,762,504 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in DexCom by 82.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,633,139 shares of the medical device company's stock valued at $317,137,000 after acquiring an additional 1,638,407 shares during the period. Hedge funds and other institutional investors own 97.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DXCM shares. Weiss Ratings lowered shares of DexCom from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, February 18th. Argus dropped their price target on shares of DexCom from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, November 7th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $86.00 price objective (up from $84.00) on shares of DexCom in a report on Friday, January 9th. Canaccord Genuity Group set a $95.00 target price on shares of DexCom and gave the company a "buy" rating in a report on Friday, February 13th. Finally, Barclays restated an "underweight" rating and set a $72.00 target price (up from $71.00) on shares of DexCom in a research report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.18.

DexCom Stock Down 0.2%

DXCM opened at $72.90 on Thursday. The business's fifty day simple moving average is $70.61 and its 200 day simple moving average is $69.00. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $89.98. The company has a quick ratio of 1.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The stock has a market cap of $28.06 billion, a PE ratio of 34.71, a P/E/G ratio of 1.42 and a beta of 1.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.03. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The company'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 earned $0.45 EPS. As a group, research analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal 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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