Michael Jon Brown Sells 1,700 Shares of DexCom (NASDAQ:DXCM) Stock

DexCom, Inc. (NASDAQ:DXCM) EVP Michael Brown sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $142,868.00. Following the transaction, the executive vice president directly owned 99,885 shares of the company’s stock, valued at $8,394,335.40. The trade was a 1.67% 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DexCom Stock Performance

DexCom stock traded up $0.89 during midday trading on Wednesday, reaching $87.34. 3,541,995 shares of the company traded hands, compared to its average volume of 5,115,788. DexCom, Inc. has a 12 month low of $54.11 and a 12 month high of $92.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The business has a 50 day moving average of $83.25 and a two-hundred day moving average of $72.98. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.42.

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

Institutional Investors Weigh In On DexCom

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of DexCom during the 4th quarter valued at about $483,356,000. Legal & General Group Plc purchased a new stake in DexCom in the 2nd quarter worth approximately $173,237,000. Deutsche Bank AG purchased a new stake in DexCom in the 2nd quarter worth approximately $164,035,000. Employees Provident Fund Board bought a new stake in DexCom during the 4th quarter worth approximately $145,352,000. Finally, J. Stern & Co. LLP raised its stake in DexCom by 2,114.8% during the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after acquiring an additional 1,529,641 shares during the period. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. BTIG Research reiterated a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of DexCom in a research report on Friday, July 31st. Weiss Ratings raised DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group set a $96.00 price target on DexCom and gave the company a “buy” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their price target on shares of DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective (up from $88.00) on shares of DexCom in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company’s products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.