DexCom, Inc. (NASDAQ:DXCM) Stake Cut by Nicholas Investment Partners LP

Nicholas Investment Partners LP reduced its holdings in DexCom, Inc. (NASDAQ:DXCM) by 66.9% in the 2nd quarter, Holdings Channel reports. The fund owned 11,738 shares of the medical device company’s stock after selling 23,689 shares during the period. Nicholas Investment Partners LP’s holdings in DexCom were worth $1,331,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in DexCom by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock worth $6,186,539,000 after acquiring an additional 136,282 shares in the last quarter. Capital Research Global Investors raised its stake in shares of DexCom by 21.4% during the 4th quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after purchasing an additional 2,695,296 shares in the last quarter. Sands Capital Management LLC raised its stake in shares of DexCom by 10.2% during the 4th quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock worth $1,868,647,000 after purchasing an additional 1,398,136 shares in the last quarter. Capital World Investors increased its holdings in shares of DexCom by 130.7% during the 4th 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. Finally, Artisan Partners Limited Partnership increased its holdings in shares of DexCom by 164.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock valued at $732,169,000 after acquiring an additional 3,672,471 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value of $45,346.60. Following the transaction, the executive vice president now owns 66,249 shares of the company’s stock, valued at $4,607,617.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the sale, the executive vice president now owns 66,249 shares in the company, valued at $4,607,617.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,483 shares of company stock valued at $201,708. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DXCM has been the topic of a number of analyst reports. UBS Group lowered their price objective on DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Redburn Atlantic began coverage on DexCom in a report on Thursday, May 30th. They set a “neutral” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $145.00 to $75.00 in a report on Friday, July 26th. Wells Fargo & Company lowered their target price on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, Morgan Stanley lowered their target price on DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Seven 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.25.

DexCom Price Performance

Shares of DXCM stock opened at $68.82 on Friday. The stock’s fifty day simple moving average is $83.24 and its 200 day simple moving average is $111.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The firm has a market cap of $27.37 billion, a price-to-earnings ratio of 44.40, a P/E/G ratio of 2.12 and a beta of 1.18. DexCom, Inc. has a one year low of $62.34 and a one year high of $142.00.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, analysts expect that DexCom, Inc. will post 1.69 earnings per share for the current fiscal year.

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.