Wellington Management Group LLP Cuts Stake in DexCom, Inc. $DXCM

Key Points

• Wellington Management reduced its DexCom stake by 8.6% in the second quarter, selling 798,769 shares and retaining 8.53 million shares worth approximately $574.3 million. Institutional investors collectively own 97.75% of DXCM.
• DexCom reported quarterly earnings of $0.70 per share, beating estimates of $0.61, while revenue rose 13.1% year over year to $1.31 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.71, although price targets range from $80 to $90.

Wellington Management Group LLP lessened its holdings in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,527,471 shares of the medical device company's stock after selling 798,769 shares during the quarter. Wellington Management Group LLP owned about 2.26% of DexCom worth $574,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in DexCom by 15.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company's stock valued at $77,000 after buying an additional 153 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of DexCom by 1.8% in the first quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company's stock worth $604,000 after buying an additional 172 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in shares of DexCom by 5.7% in the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company's stock worth $204,000 after buying an additional 175 shares in the last quarter. Keel Point LLC boosted its position in shares of DexCom by 3.1% during the fourth quarter. Keel Point LLC now owns 6,473 shares of the medical device company's stock worth $430,000 after acquiring an additional 193 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of DexCom by 6.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company's stock worth $227,000 after acquiring an additional 196 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jon Coleman sold 4,911 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $74.13, for a total value of $364,052.43. Following the completion of the transaction, the executive vice president owned 95,450 shares of the company's stock, valued at approximately $7,075,708.50. This trade represents a 4.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the transaction, the insider owned 328,970 shares of the company's stock, valued at approximately $25,106,990.40. This represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 75,600 shares of company stock worth $5,673,342. 0.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DXCM has been the topic of a number of research reports. Bank of America reduced their price target on shares of DexCom from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Wells Fargo & Company raised their price objective on DexCom from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on DexCom and gave the stock a "buy" rating in a report on Monday, August 3rd. Wall Street Zen downgraded DexCom from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, BTIG Research reissued a "buy" rating and set a $90.00 price target (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.71.

DexCom Price Performance

DexCom stock opened at $90.82 on Friday. The company has a market cap of $34.27 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.53 and a beta of 1.41. The firm's fifty day moving average is $79.21 and its 200 day moving average is $71.60. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 52-week low of $54.11 and a 52-week high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $0.48 earnings per share. DexCom's quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts forecast that DexCom, Inc. will post 2.64 EPS for the current fiscal year.

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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