Sands Capital Management LLC Decreases Position in DexCom, Inc. $DXCM

Sands Capital Management LLC decreased its position in DexCom, Inc. (NASDAQ:DXCM) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,947,944 shares of the medical device company’s stock after selling 466,212 shares during the period. DexCom comprises approximately 2.5% of Sands Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Sands Capital Management LLC owned 2.54% of DexCom worth $868,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DXCM. Nuveen LLC purchased a new position in shares of DexCom during the 1st quarter valued at $554,893,000. Norges Bank bought a new stake in DexCom in the 2nd quarter valued at about $453,279,000. Groupama Asset Managment lifted its holdings in DexCom by 79,043.1% during the second quarter. Groupama Asset Managment now owns 4,016,513 shares of the medical device company’s stock valued at $350,601,000 after purchasing an additional 4,011,438 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in DexCom by 106.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,605,687 shares of the medical device company’s stock valued at $576,610,000 after purchasing an additional 3,410,858 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in DexCom by 22.6% during the first 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. 97.75% of the stock is owned by institutional investors.

DexCom Price Performance

DexCom stock opened at $64.45 on Wednesday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $93.25. The business has a 50-day simple moving average of $64.12 and a 200 day simple moving average of $75.45. The company has a quick ratio of 1.38, a current ratio of 1.56 and a debt-to-equity ratio of 0.45. The stock has a market cap 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 released its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. DexCom had a return on equity of 30.65% and a net margin of 15.96%.The company’s revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. On average, research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on DXCM. Piper Sandler set a $75.00 price target on shares of DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. Oppenheimer cut shares of DexCom from an “outperform” rating to a “market perform” rating in a report on Monday, September 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $84.00 price target on shares of DexCom in a report on Monday, November 3rd. JPMorgan Chase & Co. decreased their price objective on DexCom from $90.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Robert W. Baird set a $82.00 target price on DexCom in a research note on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.27.

Insiders Place Their Bets

In related news, COO Jacob Steven Leach bought 18,200 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 331,697 shares of the company’s stock, valued at approximately $18,256,602.88. The trade was a 5.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Alexander Collins sold 3,948 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $55.17, for a total value of $217,811.16. Following the completion of the transaction, the director directly owned 37,994 shares in the company, valued at approximately $2,096,128.98. This represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,999 shares of company stock worth $619,391. 0.32% of the stock is owned by corporate insiders.

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.