Westfield Capital Management Co. LP Purchases 102,142 Shares of DexCom, Inc. (NASDAQ:DXCM)

Key Points

• Westfield Capital Management Co. LP increased its holdings in DexCom, Inc. by 4.4%, acquiring an additional 102,142 shares, bringing their total to 2,447,743 shares.
• Insider activity shows that senior executives at DexCom sold shares, with EVP Sadie Stern selling 6,184 shares at an average price of $85.11, representing a 5.34% decrease in her position.
• Analysts maintain a consensus "Buy" rating for DexCom with a target price of $99.89, as recent upgrades reflect confidence in the company’s outlook following a strong earnings report.

Westfield Capital Management Co. LP grew its position in shares of DexCom, Inc. (NASDAQ:DXCM - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,447,743 shares of the medical device company's stock after buying an additional 102,142 shares during the quarter. DexCom accounts for approximately 0.8% of Westfield Capital Management Co. LP's investment portfolio, making the stock its 25th biggest holding. Westfield Capital Management Co. LP owned 0.62% of DexCom worth $167,156,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock valued at $27,000 after purchasing an additional 264 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of DexCom during the 4th quarter valued at $33,000. Heck Capital Advisors LLC purchased a new stake in DexCom during the 4th quarter valued at about $38,000. Alpine Bank Wealth Management acquired a new stake in DexCom during the first quarter worth about $40,000. Finally, Private Trust Co. NA boosted its position in DexCom by 99.4% during the first quarter. Private Trust Co. NA now owns 672 shares of the medical device company's stock worth $46,000 after purchasing an additional 335 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DexCom

In other news, Director Nicholas Augustinos sold 3,672 shares of DexCom stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $304,041.60. Following the completion of the transaction, the director owned 33,411 shares of the company's stock, valued at $2,766,430.80. The trade was a 9.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total transaction of $228,607.50. Following the completion of the transaction, the director directly owned 56,621 shares of the company's stock, valued at approximately $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,656 shares of company stock worth $2,412,191. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of DexCom from a "buy" rating to a "strong-buy" rating in a report on Saturday. Citigroup restated a "buy" rating and set a $102.00 target price (up from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Piper Sandler boosted their price target on shares of DexCom from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group initiated coverage on shares of DexCom in a research note on Friday, May 30th. They set a "buy" rating and a $104.00 price target on the stock. Finally, UBS Group boosted their target price on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $99.89.

DexCom Price Performance

Shares of NASDAQ DXCM traded up $0.94 during midday trading on Wednesday, hitting $76.40. 4,827,560 shares of the company's stock were exchanged, compared to its average volume of 3,532,942. The company has a market cap of $29.96 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 1.58 and a beta of 1.43. DexCom, Inc. has a 12-month low of $57.52 and a 12-month high of $93.25. The business's fifty day moving average price is $84.21 and its two-hundred day moving average price is $80.50. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $0.43 EPS. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.