DexCom (NASDAQ:DXCM) Shares Gap Up - What's Next?

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $84.86, but opened at $86.76. DexCom shares last traded at $85.41, with a volume of 126,946 shares trading hands.

Analyst Upgrades and Downgrades

DXCM has been the subject of several research analyst reports. Piper Sandler dropped their price objective on DexCom from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Citigroup restated a "buy" rating and set a $102.00 target price (up previously from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Robert W. Baird dropped their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company restated an "overweight" rating on shares of DexCom in a research report on Saturday, March 8th. Finally, Morgan Stanley boosted their target price on shares of DexCom from $75.00 to $82.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.32.

DexCom Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The stock has a market cap of $33.71 billion, a PE ratio of 60.11, a P/E/G ratio of 2.30 and a beta of 1.43. The company's 50 day moving average is $74.67 and its 200-day moving average is $78.69.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. DexCom's revenue for the quarter 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, sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 6,184 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the sale, the executive vice president now owns 109,621 shares of the company's stock, valued at $9,329,843.31. This represents a 5.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Jon Brown sold 10,000 shares of DexCom stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the sale, the executive vice president now directly owns 95,602 shares in the company, valued at approximately $8,057,336.56. This trade represents a 9.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,110 shares of company stock valued at $6,103,505 in the last quarter. Insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On DexCom

Several large investors have recently bought and sold shares of DXCM. Private Trust Co. NA boosted its stake in DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company's stock valued at $26,000 after buying an additional 245 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company's stock worth $27,000 after purchasing an additional 264 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in DexCom during the first quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new position in DexCom in the fourth quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company's stock valued at $34,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds 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.