Wellington Management Group LLP Sells 798,769 Shares of DexCom, Inc. $DXCM

Wellington Management Group LLP lowered its position in DexCom, Inc. (NASDAQ:DXCM) by 8.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,527,471 shares of the medical device company’s stock after selling 798,769 shares during the period. Wellington Management Group LLP’s holdings in DexCom were worth $574,325,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DXCM. Reflection Asset Management purchased a new position in shares of DexCom during the 4th quarter worth about $25,000. Ascentis Independent Advisors purchased a new stake in DexCom in the 1st quarter worth about $25,000. MCF Advisors LLC purchased a new position in shares of DexCom during the fourth quarter valued at approximately $32,000. Wellington Grp LLC boosted its position in shares of DexCom by 778.7% during the first quarter. Wellington Grp LLC now owns 536 shares of the medical device company’s stock valued at $34,000 after buying an additional 475 shares during the period. Finally, DV Equities LLC bought a new position in shares of DexCom during the fourth quarter valued at approximately $36,000. Institutional investors own 97.75% of the company’s stock.

DexCom Trading Up 1.7%

Shares of NASDAQ DXCM opened at $90.82 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $79.21 and a two-hundred day simple moving average of $71.60. The firm has a market cap of $34.27 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.41. DexCom, Inc. has a twelve month low of $54.11 and a twelve month high of $92.59.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. Analysts expect that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DXCM shares. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Canaccord Genuity Group set a $90.00 price objective on DexCom and gave the company a “buy” rating in a report on Monday, August 3rd. Barclays reaffirmed an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research report on Monday, May 18th. BTIG Research reiterated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

Insider Activity at DexCom

In other news, EVP Jon Coleman sold 4,912 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the sale, the executive vice president owned 100,361 shares of the company’s stock, valued at approximately $7,326,353. This represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $88.37, for a total transaction of $226,669.05. Following the transaction, the executive vice president owned 126,043 shares in the company, valued at approximately $11,138,419.91. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,600 shares of company stock worth $5,673,342 over the last quarter. Corporate insiders own 0.28% of the company’s stock.

DexCom 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.