DexCom (NASDAQ:DXCM) Trading 3.7% Higher – Here’s Why

DexCom, Inc. (NASDAQ:DXCM)’s share price traded up 3.7% on Thursday . The stock traded as high as $84.46 and last traded at $83.35. 480,367 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 3,277,229 shares. The stock had previously closed at $80.40.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Leerink Partners lowered their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Raymond James cut their target price on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.29.

DexCom Price Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The company has a 50-day moving average of $78.17 and a 200-day moving average of $78.22. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 50.53, a P/E/G ratio of 2.00 and a beta of 1.12.

Insider Activity

In related news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the transaction, the executive vice president now owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. boosted its holdings in DexCom by 4.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,928 shares of the medical device company’s stock worth $445,000 after acquiring an additional 162 shares during the period. Crossmark Global Holdings Inc. grew its holdings in DexCom by 1.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 18,778 shares of the medical device company’s stock valued at $1,259,000 after purchasing an additional 182 shares in the last quarter. Riverview Trust Co increased its stake in DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after buying an additional 232 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in DexCom by 46.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 833 shares of the medical device company’s stock worth $65,000 after buying an additional 265 shares in the last quarter. Finally, Koa Wealth Management LLC boosted its position in DexCom by 7.7% in the 3rd quarter. Koa Wealth Management LLC now owns 3,770 shares of the medical device company’s stock valued at $253,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

About DexCom

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.