Sands Capital Management LLC Cuts Stake in DexCom, Inc. $DXCM

Sands Capital Management LLC lowered its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,947,944 shares of the medical device company’s stock after selling 466,212 shares during the quarter. DexCom accounts for about 2.5% of Sands Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Sands Capital Management LLC’s holdings in DexCom were worth $868,356,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in DexCom during the first quarter valued at about $554,893,000. Norges Bank bought a new stake in shares of DexCom in the 2nd quarter valued at about $453,279,000. Groupama Asset Managment boosted its holdings in DexCom by 79,043.1% during the 2nd quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after acquiring an additional 4,011,438 shares during the period. Massachusetts Financial Services Co. MA grew its position in DexCom by 106.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock worth $576,610,000 after acquiring an additional 3,410,858 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DexCom by 22.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock worth $691,336,000 after purchasing an additional 1,868,241 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard Alexander Collins sold 3,948 shares of DexCom stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $55.17, for a total transaction of $217,811.16. Following the sale, the director directly owned 37,994 shares in the company, valued at $2,096,128.98. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kyle Malady sold 667 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the transaction, the director owned 22,667 shares of the company’s stock, valued at approximately $1,832,853.62. This trade represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,999 shares of company stock worth $619,391 over the last quarter. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DXCM shares. Citigroup dropped their price objective on DexCom from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Morgan Stanley raised shares of DexCom from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $63.00 to $75.00 in a research report on Tuesday. TD Cowen cut their price target on shares of DexCom from $100.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Canaccord Genuity Group set a $99.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Argus cut their target price on DexCom from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.27.

DexCom Trading Up 1.5%

Shares of DXCM opened at $64.45 on Wednesday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $93.25. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $64.12 and its 200-day moving average price is $75.45. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 1.36 and a beta of 1.51.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. DexCom had a net margin of 15.96% and a return on equity of 30.65%. DexCom’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current 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.