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

Sands Capital Management LLC reduced its stake in DexCom, Inc. (NASDAQ:DXCM) by 50.4% during the 3rd quarter, Holdings Channel reports. The fund owned 4,934,189 shares of the medical device company’s stock after selling 5,013,755 shares during the period. Sands Capital Management LLC’s holdings in DexCom were worth $332,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its stake in shares of DexCom by 8.6% during the 3rd quarter. Mackenzie Financial Corp now owns 1,105,644 shares of the medical device company’s stock worth $74,399,000 after purchasing an additional 87,623 shares during the last quarter. Legal & General Group Plc raised its position in shares of DexCom by 4.7% in the third quarter. Legal & General Group Plc now owns 2,635,700 shares of the medical device company’s stock valued at $177,356,000 after buying an additional 117,493 shares during the last quarter. Bell Asset Management Ltd purchased a new position in shares of DexCom during the third quarter valued at approximately $2,116,000. Schroder Investment Management Group boosted its position in DexCom by 274.7% during the third quarter. Schroder Investment Management Group now owns 149,606 shares of the medical device company’s stock worth $10,067,000 after acquiring an additional 109,675 shares during the last quarter. Finally, Korea Investment CORP grew its stake in DexCom by 103.0% in the 3rd quarter. Korea Investment CORP now owns 769,664 shares of the medical device company’s stock worth $51,791,000 after acquiring an additional 390,501 shares during the period. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Mizuho raised their price objective on DexCom from $78.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Robert W. Baird set a $87.00 price target on DexCom in a research note on Friday, February 13th. Wells Fargo & Company lowered their price target on DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Weiss Ratings raised shares of DexCom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Finally, Canaccord Genuity Group set a $95.00 price target on shares of DexCom and gave the stock a “buy” rating in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $85.18.

DexCom Stock Down 1.4%

Shares of NASDAQ:DXCM opened at $67.79 on Wednesday. The stock has a 50-day simple moving average of $70.73 and a 200-day simple moving average of $68.57. The stock has a market capitalization of $26.09 billion, a P/E ratio of 32.28, a PEG ratio of 1.34 and a beta of 1.48. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results 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. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company posted $0.45 earnings per share. DexCom’s revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast 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.