Massachusetts Financial Services Co. MA Reduces Stock Position in DexCom, Inc. (NASDAQ:DXCM)

Massachusetts Financial Services Co. MA lowered its stake in DexCom, Inc. (NASDAQ:DXCM - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,178,858 shares of the medical device company's stock after selling 252,106 shares during the period. Massachusetts Financial Services Co. MA owned 0.30% of DexCom worth $91,680,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DXCM. Norges Bank acquired a new stake in DexCom during the fourth quarter worth approximately $385,367,000. Congress Asset Management Co. boosted its holdings in DexCom by 5,456.9% during the 4th quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock worth $105,529,000 after acquiring an additional 1,332,522 shares during the last quarter. Fisher Funds Management LTD purchased a new stake in DexCom in the 4th quarter valued at about $96,507,000. Two Sigma Advisers LP grew its stake in DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company's stock valued at $76,659,000 after purchasing an additional 739,000 shares during the period. Finally, Jennison Associates LLC increased its holdings in DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company's stock worth $594,455,000 after buying an additional 710,858 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Jacob Steven Leach sold 14,076 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $990,668.88. Following the transaction, the chief operating officer now directly owns 313,497 shares in the company, valued at approximately $22,063,918.86. This trade represents a 4.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Jon Brown sold 13,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the sale, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. The trade was a 10.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,009 shares of company stock valued at $8,044,178 in the last 90 days. Company insiders own 0.30% of the company's stock.

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DexCom Price Performance

DXCM traded up $0.60 during trading hours on Thursday, hitting $67.44. The company's stock had a trading volume of 4,304,341 shares, compared to its average volume of 4,151,314. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 2.30 and a beta of 1.50. The business's 50-day moving average price is $77.74 and its 200-day moving average price is $76.63. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. DexCom, Inc. has a 12 month low of $57.52 and a 12 month high of $141.25.

DexCom (NASDAQ:DXCM - Get Free Report) last released its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. Sell-side analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DXCM shares. Baird R W upgraded shares of DexCom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Robert W. Baird raised shares of DexCom from a "neutral" rating to an "outperform" rating and raised their target price for the company from $86.00 to $104.00 in a research note on Thursday, January 16th. Redburn Atlantic raised shares of DexCom from a "neutral" rating to a "buy" rating and upped their price objective for the company from $85.00 to $115.00 in a research note on Monday, February 3rd. Mizuho assumed coverage on shares of DexCom in a research note on Thursday. They set an "outperform" rating and a $85.00 price objective for the company. Finally, Cfra Research raised shares of DexCom to a "hold" rating in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

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.