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

Westfield Capital Management Co. LP reduced its holdings in DexCom, Inc. (NASDAQ:DXCM) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,312,210 shares of the medical device company’s stock after selling 68,028 shares during the quarter. Westfield Capital Management Co. LP owned 0.59% of DexCom worth $155,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of DexCom by 2.3% during the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after purchasing an additional 1,133,638 shares in the last quarter. Jennison Associates LLC lifted its position in DexCom by 9.4% during the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after purchasing an additional 994,300 shares during the last quarter. Geode Capital Management LLC grew its stake in DexCom by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock worth $936,100,000 after buying an additional 358,617 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of DexCom by 106.8% in 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 buying an additional 3,410,858 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DexCom in the 2nd quarter worth $453,279,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analyst Upgrades and Downgrades

DXCM has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Canaccord Genuity Group set a $95.00 price target on DexCom and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings lowered DexCom from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 18th. BTIG Research reiterated a “buy” rating and set a $85.00 price objective on shares of DexCom in a research report on Wednesday. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $86.00 target price (up from $84.00) on shares of DexCom in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and a consensus price target of $85.18.

DexCom Trading Up 0.1%

Shares of DXCM stock opened at $73.19 on Thursday. The business has a 50-day moving average of $69.92 and a 200 day moving average of $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. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $90.66. The stock has a market capitalization of $28.17 billion, a PE ratio of 34.85, a P/E/G ratio of 1.42 and a beta of 1.49.

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

DexCom Company 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.