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

Massachusetts Financial Services Co. MA reduced its position in shares of DexCom, Inc. (NASDAQ:DXCM) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of DexCom by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock worth $775,256,000 after purchasing an additional 56,094 shares in the last quarter. Tradewinds LLC. purchased a new stake in shares of DexCom during the fourth quarter worth $278,000. HighPoint Advisor Group LLC acquired a new stake in shares of DexCom in the fourth quarter valued at about $427,000. Alliancebernstein L.P. lifted its stake in shares of DexCom by 24.1% in the fourth quarter. Alliancebernstein L.P. now owns 555,164 shares of the medical device company’s stock worth $43,175,000 after buying an additional 107,916 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in DexCom by 16.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,384 shares of the medical device company’s stock worth $1,041,000 after acquiring an additional 1,930 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Trading Down 3.2 %

NASDAQ DXCM opened at $59.83 on Friday. DexCom, Inc. has a one year low of $57.52 and a one year high of $141.99. The firm has a 50 day simple moving average of $80.14 and a 200-day simple moving average of $76.87. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.28 and a current ratio of 1.47.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data 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 net margin of 14.29% and a return on equity of 30.14%. Equities research analysts anticipate that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Morgan Stanley lifted their price objective on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and upped their target price for the company from $86.00 to $104.00 in a report on Thursday, January 16th. Citigroup lifted their price target on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Baird R W raised shares of DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.82.

Insider Activity

In other DexCom news, COO Jacob Steven Leach sold 2,634 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $228,920.94. Following the sale, the chief operating officer now directly owns 268,644 shares in the company, valued at $23,347,850.04. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin R. Sayer sold 33,359 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $2,899,230.69. Following the transaction, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at approximately $27,727,505.67. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,009 shares of company stock worth $8,044,178. 0.30% of the stock is currently owned by company insiders.

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.