DexCom (NASDAQ:DXCM) Shares Gap Down – Here’s Why

Shares of DexCom, Inc. (NASDAQ:DXCM) gapped down before the market opened on Thursday . The stock had previously closed at $68.73, but opened at $67.00. DexCom shares last traded at $67.92, with a volume of 509,189 shares changing hands.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $86.00 to $104.00 in a research note on Thursday, January 16th. Baird R W upgraded DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Mizuho started coverage on DexCom in a research note on Thursday, April 10th. They issued an “outperform” rating and a $85.00 price target on the stock. Cfra Research raised DexCom to a “hold” rating in a research note on Friday, March 21st. Finally, Citigroup lifted their target price on shares of DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

DexCom Price Performance

The firm’s fifty day simple moving average is $75.73 and its 200-day simple moving average is $76.58. The firm has a market capitalization of $26.74 billion, a PE ratio of 47.78, a PEG ratio of 2.30 and a beta of 1.50. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. On average, research analysts forecast that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Activity

In other DexCom news, COO Jacob Steven Leach sold 2,634 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $228,920.94. Following the transaction, the chief operating officer now owns 268,644 shares of the company’s stock, valued at approximately $23,347,850.04. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 13,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the sale, the executive vice president now owns 105,602 shares of the company’s stock, valued at approximately $7,432,268.76. This represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,009 shares of company stock valued at $8,044,178 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG increased its position in DexCom by 5.9% in the first quarter. Bank Pictet & Cie Europe AG now owns 117,575 shares of the medical device company’s stock worth $8,029,000 after purchasing an additional 6,512 shares during the last quarter. Brighton Jones LLC raised its position in shares of DexCom by 2.6% during the 1st quarter. Brighton Jones LLC now owns 17,009 shares of the medical device company’s stock valued at $1,162,000 after buying an additional 427 shares in the last quarter. Factory Mutual Insurance Co. lifted its holdings in shares of DexCom by 8.3% in the 1st quarter. Factory Mutual Insurance Co. now owns 521,630 shares of the medical device company’s stock valued at $35,622,000 after acquiring an additional 40,000 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in DexCom by 34.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 5,235 shares of the medical device company’s stock worth $357,000 after acquiring an additional 1,333 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV bought a new stake in DexCom during the first quarter worth approximately $293,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.