Massachusetts Financial Services Co. MA Purchases 353,019 Shares of DexCom, Inc. (NASDAQ:DXCM)

Massachusetts Financial Services Co. MA lifted its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 16.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,439,033 shares of the medical device company’s stock after purchasing an additional 353,019 shares during the period. Massachusetts Financial Services Co. MA’s holdings in DexCom were worth $276,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DXCM. Gilbert & Cook Inc. raised its stake in shares of DexCom by 8.2% during the 4th quarter. Gilbert & Cook Inc. now owns 3,431 shares of the medical device company’s stock worth $426,000 after purchasing an additional 261 shares during the period. 9258 Wealth Management LLC bought a new stake in shares of DexCom in the 4th quarter worth approximately $286,000. Dimensional Fund Advisors LP lifted its stake in DexCom by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 647,172 shares of the medical device company’s stock valued at $80,308,000 after purchasing an additional 39,786 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in DexCom during the fourth quarter valued at $330,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in DexCom in the fourth quarter worth $284,000. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada dropped their price objective on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. downgraded shares of DexCom from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $75.00 in a report on Friday, July 26th. Redburn Atlantic started coverage on shares of DexCom in a research note on Thursday, May 30th. They issued a “neutral” rating and a $130.00 price objective for the company. Wells Fargo & Company dropped their target price on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.25.

DexCom Trading Down 1.6 %

Shares of DexCom stock opened at $68.94 on Wednesday. The company has a 50 day simple moving average of $80.70 and a two-hundred day simple moving average of $110.54. The firm has a market cap of $27.42 billion, a PE ratio of 44.48, a PEG ratio of 2.12 and a beta of 1.18. DexCom, Inc. has a 1 year low of $62.34 and a 1 year high of $142.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48.

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

Insider Transactions at DexCom

In related news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the transaction, the executive vice president now directly owns 66,249 shares of the company’s stock, valued at approximately $4,607,617.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Sadie Stern sold 426 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 directly owns 66,249 shares of the company’s stock, valued at $4,607,617.95. The disclosure for this sale can be found here. In the last three months, insiders sold 2,483 shares of company stock worth $201,708. 0.30% of the stock is currently owned by corporate insiders.

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.