Massachusetts Financial Services Co. MA Cuts Holdings in DexCom, Inc. (NASDAQ:DXCM)

Massachusetts Financial Services Co. MA cut its holdings in DexCom, Inc. (NASDAQ:DXCM) by 41.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,430,964 shares of the medical device company’s stock after selling 1,008,069 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in DexCom were worth $95,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Insight Partners LLC lifted its stake in shares of DexCom by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company’s stock worth $418,000 after purchasing an additional 90 shares during the period. HM Payson & Co. lifted its position in DexCom by 6.0% during the first quarter. HM Payson & Co. now owns 1,780 shares of the medical device company’s stock worth $247,000 after buying an additional 100 shares during the period. Clear Creek Financial Management LLC boosted its stake in DexCom by 4.2% in the 2nd quarter. Clear Creek Financial Management LLC now owns 2,961 shares of the medical device company’s stock worth $336,000 after buying an additional 120 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in DexCom by 3.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,421 shares of the medical device company’s stock valued at $501,000 after buying an additional 152 shares during the period. Finally, Securian Asset Management Inc. grew its holdings in DexCom by 0.7% in the 2nd quarter. Securian Asset Management Inc. now owns 22,866 shares of the medical device company’s stock valued at $2,593,000 after buying an additional 161 shares during the period. Institutional investors and hedge funds own 97.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price target on shares of DexCom in a report on Monday, August 26th. Oppenheimer dropped their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Raymond James reduced their target price on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Finally, Royal Bank of Canada lowered their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average price target of $104.59.

Insider Activity

In other DexCom news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. The trade was a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sadie Stern sold 426 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the completion of the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,431 shares of company stock worth $399,319. 0.30% of the stock is currently owned by company insiders.

DexCom Stock Down 2.2 %

Shares of NASDAQ:DXCM opened at $72.83 on Friday. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 43.61, a price-to-earnings-growth ratio of 2.28 and a beta of 1.17. The company has a 50 day moving average of $70.61 and a two-hundred day moving average of $89.83. DexCom, Inc. has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23.

DexCom Company 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.