Mediolanum International Funds Ltd Cuts Holdings in DexCom, Inc. $DXCM

Key Points

• Mediolanum International Funds Ltd cut its DexCom stake by 18.7% in the first quarter, selling 34,918 shares and ending with 151,989 shares valued at about $9.4 million.
• Despite the sale, DexCom remains heavily held by institutions, with hedge funds and other institutional investors owning 97.75% of the company’s stock.
• DexCom reported solid quarterly results, beating EPS and revenue estimates, while analysts currently have a Moderate Buy consensus with an average price target of $85.36.

Mediolanum International Funds Ltd decreased its holdings in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 18.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,989 shares of the medical device company's stock after selling 34,918 shares during the period. Mediolanum International Funds Ltd's holdings in DexCom were worth $9,408,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DXCM. Geode Capital Management LLC boosted its position in shares of 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 valued at $727,842,000 after buying an additional 42,411 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in DexCom by 6.9% in the 4th 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 worth $530,897,000 after buying an additional 516,526 shares during the last quarter. Norges Bank purchased a new position in DexCom in the 4th quarter worth about $483,356,000. Invesco Ltd. lifted its stake in DexCom by 14.8% during the 4th quarter. Invesco Ltd. now owns 5,315,367 shares of the medical device company's stock valued at $352,781,000 after acquiring an additional 686,228 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in DexCom by 7.6% during the 4th 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 acquiring an additional 220,313 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 analysts have recently commented on DXCM shares. Barclays reiterated an "underweight" rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Weiss Ratings upgraded shares of DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. TD Cowen restated a "buy" rating and issued a $95.00 target price (up from $75.00) on shares of DexCom in a report on Wednesday, June 10th. UBS Group set a $95.00 target price on shares of DexCom in a research report on Wednesday, June 10th. Finally, Bank of America decreased their target price on shares of DexCom from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $85.36.

Insider Transactions at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total transaction of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares of the company's stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total value of $60,730.12. Following the transaction, the director owned 25,007 shares of the company's stock, valued at approximately $1,500,670.07. This trade represents a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 71,750 shares of company stock valued at $5,163,241. Company insiders own 0.28% of the company's stock.

DexCom Price Performance

Shares of DexCom stock opened at $76.65 on Monday. DexCom, Inc. has a one year low of $54.11 and a one year high of $89.98. The stock's fifty day moving average is $71.16 and its 200 day moving average is $68.74. The stock has a market cap of $29.58 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.26 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95.

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