Westfield Capital Management Co. LP Trims Position in DexCom, Inc. $DXCM

Westfield Capital Management Co. LP lowered its stake in DexCom, Inc. (NASDAQ:DXCM) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,312,210 shares of the medical device company’s stock after selling 68,028 shares during the period. Westfield Capital Management Co. LP’s holdings in DexCom were worth $155,589,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DXCM. Fox Run Management L.L.C. purchased a new stake in shares of DexCom in the 3rd quarter worth about $1,236,000. TD Asset Management Inc raised its stake in DexCom by 16.2% in the third quarter. TD Asset Management Inc now owns 320,798 shares of the medical device company’s stock worth $21,586,000 after buying an additional 44,770 shares in the last quarter. Mufg Securities Americas Inc. lifted its holdings in DexCom by 21.7% in the third quarter. Mufg Securities Americas Inc. now owns 10,575 shares of the medical device company’s stock worth $712,000 after buying an additional 1,885 shares during the period. AXQ Capital LP purchased a new stake in DexCom in the third quarter worth about $873,000. Finally, Aurora Investment Counsel bought a new stake in DexCom during the 3rd quarter valued at approximately $2,287,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DXCM. Evercore initiated coverage on DexCom in a research note on Tuesday, November 25th. They issued an “in-line” rating and a $68.00 target price for the company. TD Cowen decreased their price objective on DexCom from $100.00 to $84.00 and set a “buy” rating for the company in a report on Friday, October 31st. Mizuho boosted their target price on shares of DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Weiss Ratings downgraded shares of DexCom from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 18th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of DexCom in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.18.

DexCom Trading Up 0.1%

Shares of NASDAQ:DXCM opened at $73.19 on Thursday. The stock’s fifty day moving average price is $69.92 and its 200-day moving average price is $69.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.88 and a quick ratio of 1.59. The company has a market cap of $28.17 billion, a P/E ratio of 34.85, a PEG ratio of 1.42 and a beta of 1.49. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $90.66.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Thursday, February 12th. The medical device company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Sell-side analysts expect that DexCom, Inc. will post 2.03 earnings per share for the current year.

DexCom Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.