DexCom (NASDAQ:DXCM) Trading Up 5.9% – Here’s Why

DexCom, Inc. (NASDAQ:DXCM)’s share price shot up 5.9% during trading on Tuesday . The company traded as high as $74.48 and last traded at $74.43. 1,799,815 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,900,554 shares. The stock had previously closed at $70.31.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DXCM. Canaccord Genuity Group reissued a “buy” rating and issued a $145.00 price objective on shares of DexCom in a report on Tuesday, July 23rd. Barclays cut their target price on DexCom from $138.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Wells Fargo & Company boosted their price target on DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Morgan Stanley dropped their price objective on DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The company’s 50 day simple moving average is $69.68 and its 200 day simple moving average is $92.63. The stock has a market cap of $29.04 billion, a P/E ratio of 42.10, a P/E/G ratio of 2.15 and a beta of 1.17.

Insider Buying and Selling at DexCom

In related news, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction that occurred on Monday, September 9th. The shares were 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 of the company’s stock, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Sadie Stern sold 426 shares of the firm’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 transaction, the executive vice president now owns 75,451 shares in the company, valued at approximately $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares in the company, valued at approximately $18,318,872.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of DexCom during the 1st quarter worth $853,000. Empowered Funds LLC boosted its position in DexCom by 30.7% during the first quarter. Empowered Funds LLC now owns 5,518 shares of the medical device company’s stock valued at $765,000 after purchasing an additional 1,295 shares in the last quarter. QRG Capital Management Inc. boosted its position in DexCom by 10.6% during the first quarter. QRG Capital Management Inc. now owns 10,896 shares of the medical device company’s stock valued at $1,511,000 after purchasing an additional 1,046 shares in the last quarter. Qsemble Capital Management LP bought a new stake in DexCom during the first quarter valued at about $627,000. Finally, Avantax Advisory Services Inc. boosted its holdings in DexCom by 35.4% in the first quarter. Avantax Advisory Services Inc. now owns 3,601 shares of the medical device company’s stock worth $499,000 after acquiring an additional 942 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.