TimesSquare Capital Management LLC Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

TimesSquare Capital Management LLC cut its stake in DexCom, Inc. (NASDAQ:DXCM) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 714,680 shares of the medical device company’s stock after selling 53,910 shares during the period. DexCom makes up about 1.4% of TimesSquare Capital Management LLC’s holdings, making the stock its 13th largest holding. TimesSquare Capital Management LLC owned approximately 0.18% of DexCom worth $99,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in DXCM. Capital World Investors grew its position in DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after acquiring an additional 5,256,092 shares during the period. Norges Bank purchased a new position in DexCom in the fourth quarter worth approximately $540,178,000. Artisan Partners Limited Partnership boosted its position in shares of DexCom by 164.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after buying an additional 3,672,471 shares during the period. Capital Research Global Investors boosted its position in shares of DexCom by 21.4% during 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 period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of DexCom during the fourth quarter worth $231,773,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

DexCom Stock Up 1.2 %

DexCom stock traded up $1.40 during midday trading on Friday, reaching $114.06. The company’s stock had a trading volume of 2,300,403 shares, compared to its average volume of 2,489,635. The business has a 50-day simple moving average of $119.53 and a 200-day simple moving average of $124.97. The company has a market cap of $45.36 billion, a P/E ratio of 73.59, a P/E/G ratio of 2.75 and a beta of 1.16. DexCom, Inc. has a fifty-two week low of $74.75 and a fifty-two week high of $142.00. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08.

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

Insiders Place Their Bets

In other DexCom news, CFO Jereme M. Sylvain sold 745 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $85,712.25. Following the transaction, the chief financial officer now owns 84,948 shares of the company’s stock, valued at $9,773,267.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Jereme M. Sylvain sold 745 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $85,712.25. Following the transaction, the chief financial officer now owns 84,948 shares of the company’s stock, valued at $9,773,267.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bridgette P. Heller sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the transaction, the director now directly owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,102 shares of company stock valued at $755,103. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DXCM shares. UBS Group raised their price target on DexCom from $153.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Redburn Atlantic started coverage on DexCom in a research report on Thursday, May 30th. They set a “neutral” rating and a $130.00 price target for the company. Stifel Nicolaus lowered 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. Citigroup raised their price target on DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Four 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 an average rating of “Moderate Buy” and a consensus price target of $139.47.

DexCom 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.