Massachusetts Financial Services Co. MA Acquires 2,015,971 Shares of DexCom, Inc. (NASDAQ:DXCM)

Massachusetts Financial Services Co. MA raised its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 171.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,194,829 shares of the medical device company's stock after purchasing an additional 2,015,971 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.81% of DexCom worth $218,175,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DXCM. Golden State Wealth Management LLC raised its holdings in DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of DexCom during the fourth quarter worth approximately $33,000. TD Private Client Wealth LLC raised its stake in shares of DexCom by 62.8% during the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock worth $34,000 after buying an additional 167 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of DexCom during the 4th quarter valued at $38,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of DexCom during the 1st quarter valued at $40,000. 97.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Sadie Stern sold 6,184 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the transaction, the executive vice president directly owned 109,621 shares of the company's stock, valued at approximately $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the transaction, the director directly owned 33,411 shares of the company's stock, valued at approximately $2,766,430.80. This trade represents a 9.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,190 shares of company stock worth $2,281,732 over the last 90 days. 0.32% of the stock is currently owned by insiders.

DexCom Stock Down 0.8%

Shares of NASDAQ:DXCM traded down $0.65 during mid-day trading on Wednesday, reaching $84.13. 2,353,212 shares of the stock were exchanged, compared to its average volume of 4,418,141. The company has a market cap of $32.99 billion, a P/E ratio of 62.78, a P/E/G ratio of 1.82 and a beta of 1.44. DexCom, Inc. has a one year low of $57.52 and a one year high of $117.19. The stock's 50 day simple moving average is $84.51 and its 200-day simple moving average is $80.06. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 12.90% and a return on equity of 30.05%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. As a group, equities research analysts predict that DexCom, Inc. will post 2.03 EPS for the current year.

Analyst Upgrades and Downgrades

DXCM has been the subject of several recent research reports. Truist Financial started coverage on shares of DexCom in a research report on Monday, June 16th. They set a "buy" rating and a $102.00 target price for the company. Barclays upped their price objective on DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Wall Street Zen cut DexCom from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Morgan Stanley upped their price target on DexCom from $82.00 to $89.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Cfra Research raised shares of DexCom to a "hold" rating in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $99.60.

DexCom Company Profile

DexCom, Inc, a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. The company provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.