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

Westfield Capital Management Co. LP lessened its holdings in shares of DexCom, Inc. (NASDAQ:DXCM) by 2.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,380,238 shares of the medical device company’s stock after selling 67,505 shares during the period. DexCom makes up 0.9% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 23rd largest position. Westfield Capital Management Co. LP’s holdings in DexCom were worth $207,771,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DXCM. Horizon Investments LLC raised its holdings in DexCom by 2.2% in the first quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company’s stock worth $383,000 after buying an additional 123 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of DexCom by 1.2% during the first quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company’s stock valued at $899,000 after buying an additional 157 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its position in shares of DexCom by 3.2% during the first quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company’s stock valued at $407,000 after acquiring an additional 182 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in DexCom by 3.2% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,019 shares of the medical device company’s stock worth $411,000 after acquiring an additional 187 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock worth $227,000 after acquiring an additional 196 shares during the last quarter. 97.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DexCom news, Director Kyle Malady sold 667 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the sale, the director directly owned 22,667 shares of the company’s stock, valued at $1,832,853.62. This trade represents a 2.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jacob Steven Leach bought 18,200 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $55.04 per share, for a total transaction of $1,001,728.00. Following the acquisition, the chief operating officer directly owned 331,697 shares of the company’s stock, valued at approximately $18,256,602.88. This represents a 5.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 9,999 shares of company stock worth $619,391 over the last ninety days. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DXCM. Wall Street Zen downgraded DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday. Truist Financial reiterated a “buy” rating and issued a $82.00 price target (down from $94.00) on shares of DexCom in a research note on Monday, November 3rd. UBS Group dropped their target price on shares of DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Morgan Stanley decreased their target price on shares of DexCom from $89.00 to $63.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Finally, Argus lowered their price target on DexCom from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.62.

DexCom Stock Down 0.7%

Shares of DXCM stock opened at $59.73 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. DexCom, Inc. has a one year low of $54.11 and a one year high of $93.25. The company’s fifty day moving average price is $66.17 and its 200-day moving average price is $76.90. The company has a market capitalization of $23.30 billion, a price-to-earnings ratio of 41.48, a PEG ratio of 1.43 and a beta of 1.40.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. DexCom’s quarterly revenue was up 21.6% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. Sell-side analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

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.