DexCom (NASDAQ:DXCM) Stock Price Down 9.1% - What's Next?

Key Points

• DexCom's stock experienced a significant drop of 9.1%, trading between $81.57 and $80.94, following a previous close at $89.06.
• Analysts have mixed views on the stock, with Citigroup raising its price target to $102.00 while others like Robert W. Baird lowered it to $105.00.
• Despite recent stock price fluctuations, DexCom reported a quarterly earnings increase with a revenue of $1.16 billion, exceeding analysts' expectations.

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) traded down 9.1% on Thursday . The stock traded as low as $81.57 and last traded at $80.94. 4,922,663 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 3,847,749 shares. The stock had previously closed at $89.06.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reiterated a "buy" rating and issued a $102.00 price target (up from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Robert W. Baird reduced their price target on DexCom from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group assumed coverage on DexCom in a report on Friday, May 30th. They issued a "buy" rating and a $104.00 price target on the stock. UBS Group increased their price target on DexCom from $105.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on DexCom from $82.00 to $89.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, DexCom currently has an average rating of "Moderate Buy" and a consensus target price of $99.89.

DexCom Price Performance

The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.55. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 60.28, a PEG ratio of 1.91 and a beta of 1.44. The stock has a 50-day moving average price of $84.75 and a two-hundred day moving average price of $80.62.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. DexCom had a return on equity of 30.05% and a net margin of 12.90%. The business's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. As a group, equities research analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $82.80, for a total value of $41,400.00. Following the completion of the sale, the executive vice president owned 95,102 shares of the company's stock, valued at $7,874,445.60. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $88.99, for a total value of $130,459.34. Following the completion of the sale, the executive vice president directly owned 106,689 shares of the company's stock, valued at $9,494,254.11. The trade was a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,656 shares of company stock worth $2,412,191 over the last quarter. Company insiders own 0.32% of the company's stock.

Institutional Trading of DexCom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in DexCom by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 47,455,899 shares of the medical device company's stock worth $3,240,763,000 after acquiring an additional 925,882 shares during the period. Jennison Associates LLC raised its stake in shares of DexCom by 37.7% during the 1st quarter. Jennison Associates LLC now owns 10,523,246 shares of the medical device company's stock valued at $718,632,000 after buying an additional 2,879,489 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of DexCom by 22.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company's stock valued at $691,336,000 after buying an additional 1,868,241 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of DexCom by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company's stock valued at $775,256,000 after buying an additional 56,094 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of DexCom during the 1st quarter valued at about $554,893,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.