Bessemer Group Inc. Sells 372,228 Shares of DexCom, Inc. (NASDAQ:DXCM)

Bessemer Group Inc. cut its stake in DexCom, Inc. (NASDAQ:DXCM) by 28.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 955,161 shares of the medical device company’s stock after selling 372,228 shares during the quarter. Bessemer Group Inc. owned 0.24% of DexCom worth $132,480,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DXCM. Capital World Investors increased its position in DexCom by 130.7% during the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after acquiring an additional 5,256,092 shares during the last quarter. Norges Bank bought a new position in shares of DexCom in the 4th quarter worth approximately $540,178,000. Artisan Partners Limited Partnership lifted its stake in shares of DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after purchasing an additional 3,672,471 shares during the period. Capital Research Global Investors boosted its holdings in shares of DexCom by 21.4% in the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after buying an additional 2,695,296 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in DexCom during the fourth quarter valued at approximately $231,773,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Price Performance

Shares of DXCM traded down $0.19 during midday trading on Wednesday, hitting $111.94. 3,614,746 shares of the company traded hands, compared to its average volume of 2,860,668. DexCom, Inc. has a 52 week low of $74.75 and a 52 week high of $142.00. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90. The firm has a 50 day moving average of $117.46 and a 200-day moving average of $124.49. The stock has a market cap of $44.52 billion, a price-to-earnings ratio of 72.22, a PEG ratio of 2.73 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $921.00 million for the quarter, compared to the consensus estimate of $911.20 million. DexCom had a return on equity of 31.01% and a net margin of 16.82%. On average, analysts forecast that DexCom, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the sale, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares in the company, valued at approximately $8,055,854.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $113.55, for a total value of $113,550.00. Following the sale, the director now owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. Insiders sold 4,112 shares of company stock worth $480,861 over the last 90 days. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DXCM shares. Canaccord Genuity Group reiterated a “buy” rating and set a $145.00 price target on shares of DexCom in a research note on Tuesday. Morgan Stanley lowered their target price on DexCom from $132.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus reduced their price target on DexCom from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, July 12th. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Finally, UBS Group boosted their price objective on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.33.

About DexCom

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.