DexCom (NASDAQ:DXCM) Shares Gap Down - Time to Sell?

DexCom, Inc. (NASDAQ:DXCM - Get Free Report)'s stock price gapped down prior to trading 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 traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DXCM shares. Canaccord Genuity Group increased their price objective on shares of DexCom from $99.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Cfra Research raised DexCom to a "hold" rating in a research report on Friday, March 21st. Redburn Atlantic upgraded DexCom from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Mizuho assumed coverage on shares of DexCom in a research note on Thursday, April 10th. They set an "outperform" rating and a $85.00 price objective for the company. Finally, Citigroup raised their target price on shares of DexCom from $101.00 to $104.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $99.00.

DexCom Price Performance

The stock has a market capitalization of $26.01 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.30 and a beta of 1.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The company has a 50-day simple moving average of $74.62 and a two-hundred day simple moving average of $76.74.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, February 13th. The medical device company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. On average, equities research analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Jacob Steven Leach sold 2,634 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the completion of the sale, the chief operating officer now owns 268,644 shares of the company's stock, valued at $23,347,850.04. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 13,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total transaction of $914,940.00. Following the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. The trade was a 10.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,009 shares of company stock worth $8,044,178. 0.32% of the stock is owned by company insiders.

Institutional Trading of DexCom

A number of hedge funds and other institutional investors have recently modified their holdings of DXCM. Norges Bank acquired a new stake in DexCom in the 4th quarter valued at about $385,367,000. Congress Asset Management Co. boosted its holdings in DexCom by 5,456.9% during the fourth quarter. Congress Asset Management Co. now owns 1,356,941 shares of the medical device company's stock worth $105,529,000 after buying an additional 1,332,522 shares in the last quarter. Fisher Funds Management LTD bought a new position in shares of DexCom in the fourth quarter valued at $96,507,000. Woodline Partners LP acquired a new stake in shares of DexCom during the 4th quarter valued at $63,338,000. Finally, Northern Trust Corp boosted its stake in shares of DexCom by 22.2% during the 4th quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company's stock worth $322,454,000 after acquiring an additional 753,857 shares in the last quarter. Institutional investors 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.