Legal & General Group Plc Has $172.91 Million Stock Holdings in DexCom, Inc. $DXCM

Key Points

• Legal & General Group Plc trimmed its DexCom stake by 1.2% in the fourth quarter, but still held 2.61 million shares worth about $172.9 million.
• DexCom remains heavily owned by institutions and hedge funds, with 97.75% of shares held by these investors; several firms, including Vanguard and CIBC Private Wealth, increased their positions.
• The company beat first-quarter earnings expectations, posting EPS of $0.56 on revenue of $1.19 billion, while analysts currently rate the stock a Moderate Buy with an average target price of $82.21.

Legal & General Group Plc cut its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,605,282 shares of the medical device company's stock after selling 30,418 shares during the period. Legal & General Group Plc owned about 0.67% of DexCom worth $172,913,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position 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 during the period. CIBC Private Wealth Group LLC boosted its position 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 during the period. Holocene Advisors LP bought a new position in DexCom during the 3rd quarter worth approximately $163,964,000. Dimensional Fund Advisors LP raised its holdings in DexCom by 52.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,444,566 shares of the medical device company's stock worth $97,187,000 after purchasing an additional 497,039 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in shares of DexCom by 15.6% in the 4th quarter. DNB Asset Management AS now owns 1,269,391 shares of the medical device company's stock worth $84,249,000 after purchasing an additional 170,847 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays reaffirmed an "underweight" rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Weiss Ratings upgraded shares of DexCom from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. Wall Street Zen cut shares of DexCom from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. William Blair upgraded DexCom to a "strong-buy" rating in a report on Friday, May 15th. Finally, Canaccord Genuity Group set a $82.00 price objective on DexCom and gave the stock a "buy" rating in a research report on Monday, May 18th. Three research 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $82.21.

DexCom Stock Performance

NASDAQ:DXCM opened at $70.26 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $89.98. The company has a fifty day moving average of $63.95 and a 200-day moving average of $66.27. The firm has a market capitalization of $27.11 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.19 and a beta of 1.40.

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

Insider Activity at DexCom

In related news, insider Kevin R. Sayer sold 26,759 shares of the business's stock in a transaction on 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 owned 382,482 shares in the company, valued at $27,538,704. The trade was a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Jon Brown sold 1,700 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00. Following the transaction, the executive vice president owned 111,204 shares in the company, valued at $7,010,300.16. The trade was a 1.51% decrease in their position. 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 32,871 shares of company stock worth $2,306,638 in the last quarter. Company insiders own 0.28% of the company's stock.

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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