DexCom (NASDAQ:DXCM) Shares Gap Down Following Insider Selling

DexCom, Inc. (NASDAQ:DXCM - Get Free Report)'s stock price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $87.29, but opened at $83.18. DexCom shares last traded at $84.91, with a volume of 788,078 shares.

Specifically, EVP Sadie Stern sold 1,466 shares of DexCom stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $85.06, for a total transaction of $124,697.96. Following the transaction, the executive vice president owned 108,155 shares of the company's stock, valued at $9,199,664.30. The trade was a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of DexCom from $90.00 to $93.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of DexCom in a research note on Saturday, March 8th. Cfra Research upgraded DexCom to a "hold" rating in a report on Friday, March 21st. Citigroup restated a "buy" rating and issued a $102.00 target price (up previously from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group started coverage on DexCom in a research report on Friday, May 30th. They issued a "buy" rating and a $104.00 target price on the stock. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, DexCom has an average rating of "Moderate Buy" and a consensus target price of $98.50.

DexCom Stock Performance

The stock's 50-day moving average price is $82.12 and its 200 day moving average price is $79.66. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The company has a market cap of $33.37 billion, a P/E ratio of 63.41, a price-to-earnings-growth ratio of 1.84 and a beta of 1.46.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The business's revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. As a group, research analysts expect that DexCom, Inc. will post 2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On DexCom

Several large investors have recently made changes to their positions in the business. Nuveen LLC bought a new position in DexCom in the 1st quarter worth approximately $554,893,000. Norges Bank acquired a new stake in shares of DexCom in the fourth quarter worth $385,367,000. Jennison Associates LLC grew its stake in shares of DexCom by 37.7% in the first quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock worth $718,632,000 after acquiring an additional 2,879,489 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in DexCom by 171.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,194,829 shares of the medical device company's stock worth $218,175,000 after acquiring an additional 2,015,971 shares during the period. Finally, Federated Hermes Inc. raised its stake in DexCom by 2,371.4% during the 1st quarter. Federated Hermes Inc. now owns 1,994,732 shares of the medical device company's stock valued at $136,220,000 after purchasing an additional 1,914,019 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.

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