Fisher Funds Management LTD Has $57.19 Million Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Fisher Funds Management cut its DexCom stake by 25.3% in Q1, selling 308,264 shares and ending with 910,584 shares worth about $57.2 million.
• DexCom reported strong quarterly results, with earnings of $0.56 per share and revenue of $1.19 billion, both ahead of analyst expectations, while revenue grew 15% year over year.
• Wall Street remains mostly bullish on DXCM: analysts have a Moderate Buy consensus and an average price target of $84.83, though insiders also recently sold shares.

Fisher Funds Management LTD trimmed its position in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 25.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 910,584 shares of the medical device company's stock after selling 308,264 shares during the quarter. DexCom makes up 1.7% of Fisher Funds Management LTD's holdings, making the stock its 14th largest position. Fisher Funds Management LTD owned about 0.24% of DexCom worth $57,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DXCM. Geode Capital Management LLC grew its holdings in DexCom by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 11,006,183 shares of the medical device company's stock worth $727,842,000 after purchasing an additional 42,411 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in DexCom by 6.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,999,057 shares of the medical device company's stock valued at $530,897,000 after buying an additional 516,526 shares during the period. Norges Bank bought a new stake in DexCom in the fourth quarter valued at approximately $483,356,000. Invesco Ltd. lifted its position in shares of DexCom by 14.8% in the fourth quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock valued at $352,781,000 after buying an additional 686,228 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of DexCom by 7.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,128,114 shares of the medical device company's stock valued at $207,613,000 after buying an additional 220,313 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Price Performance

DXCM stock opened at $72.47 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.13 and a beta of 1.45. The business's fifty day moving average price is $67.07 and its two-hundred day moving average price is $67.95. DexCom, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.98.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company's revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities analysts anticipate that DexCom, Inc. will post 2.58 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on DXCM shares. Sanford C. Bernstein set a $77.00 target price on DexCom in a research note on Friday, May 1st. Canaccord Genuity Group set a $82.00 price target on DexCom and gave the company a "buy" rating in a report on Monday, May 18th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $91.00 price target on shares of DexCom in a report on Monday, June 8th. Mizuho set a $85.00 price objective on shares of DexCom and gave the stock an "outperform" rating in a research report on Tuesday, June 9th. Finally, William Blair upgraded shares of DexCom to a "strong-buy" rating in a report on Friday, May 15th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.83.

Insider Buying and Selling at DexCom

In related news, insider Kevin R. Sayer sold 26,759 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total transaction of $1,926,648.00. Following the transaction, the insider directly owned 382,482 shares of the company's stock, valued at approximately $27,538,704. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of DexCom stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $74.13, for a total transaction of $296,520.00. Following the completion of the sale, the director owned 52,852 shares of the company's stock, valued at $3,917,918.76. This trade represents a 7.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 46,694 shares of company stock valued at $3,343,977 in the last quarter. Company insiders own 0.28% of the company's stock.

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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