DexCom (NASDAQ:DXCM) Shares Up 4.8%

Shares of DexCom, Inc. (NASDAQ:DXCM) were up 4.8% on Tuesday . The company traded as high as $70.74 and last traded at $70.71. Approximately 1,482,503 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 3,370,121 shares. The stock had previously closed at $67.48.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DXCM shares. Citigroup raised their price objective on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Baird R W downgraded DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Company cut their price objective on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Barclays dropped their price target on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $145.00 price target on shares of DexCom in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.50.

DexCom Trading Up 3.7 %

The business has a 50-day moving average price of $110.43 and a 200-day moving average price of $122.19. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $28.18 billion, a P/E ratio of 45.37, a PEG ratio of 2.16 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. DexCom’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. Analysts anticipate that DexCom, Inc. will post 1.69 earnings per share for the current year.

Insider Activity at DexCom

In related news, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the sale, the director now owns 25,349 shares of the company’s stock, valued at approximately $2,878,378.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value of $45,346.60. Following the transaction, the executive vice president now owns 66,249 shares of the company’s stock, valued at $4,607,617.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the completion of the transaction, the director now directly owns 25,349 shares in the company, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. Insiders have sold a total of 4,135 shares of company stock valued at $446,797 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New Hampshire bought a new stake in shares of DexCom during the first quarter worth $1,508,000. abrdn plc increased its holdings in DexCom by 21.1% in the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after purchasing an additional 66,348 shares during the last quarter. Cerity Partners LLC increased its holdings in DexCom by 5,791.0% in the fourth quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock valued at $57,574,000 after purchasing an additional 456,097 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in DexCom by 21.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock valued at $217,929,000 after purchasing an additional 310,728 shares during the last quarter. Finally, Alberta Investment Management Corp increased its holdings in DexCom by 27.0% in the fourth quarter. Alberta Investment Management Corp now owns 323,335 shares of the medical device company’s stock valued at $40,123,000 after purchasing an additional 68,723 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

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.