Michael Jon Brown Sells 1,700 Shares of DexCom (NASDAQ:DXCM) Stock

Key Points

• DexCom EVP Michael Jon Brown sold 1,700 shares for approximately $142,868 at an average price of $84.04 under a pre-arranged Rule 10b5-1 trading plan. He retained 99,885 shares after the transaction.
• DexCom shares rose 1% to $87.34, while the company reported quarterly revenue of $1.31 billion and adjusted earnings of $0.70 per share, exceeding analyst expectations.
• Analysts remain broadly bullish, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $88.71; institutional investors own 97.75% of outstanding shares.

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) EVP Michael Brown sold 1,700 shares of the firm's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total value of $142,868.00. Following the transaction, the executive vice president directly owned 99,885 shares of the company's stock, valued at $8,394,335.40. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DexCom Stock Up 1.0%

Shares of NASDAQ:DXCM traded up $0.89 during midday trading on Wednesday, reaching $87.34. The company's stock had a trading volume of 3,541,995 shares, compared to its average volume of 5,115,788. The firm has a 50 day moving average of $83.25 and a 200-day moving average of $72.98. The firm has a market capitalization of $32.96 billion, a P/E ratio of 34.52, a PEG ratio of 1.42 and a beta of 1.42. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom, Inc. has a 12-month low of $54.11 and a 12-month high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period last year, the company posted $0.48 EPS. DexCom's revenue was up 13.1% on a year-over-year basis. On average, research analysts anticipate that DexCom, Inc. will post 2.64 earnings per share for the current year.

Institutional Trading of DexCom

Institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its holdings in shares of DexCom by 15.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,116 shares of the medical device company's stock worth $1,287,000 after purchasing an additional 2,509 shares in the last quarter. Tidal Investments LLC boosted its position in shares of DexCom by 6.5% during the second quarter. Tidal Investments LLC now owns 65,922 shares of the medical device company's stock valued at $4,440,000 after buying an additional 3,995 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new stake in shares of DexCom during the second quarter valued at $230,000. Scholtz & Company LLC boosted its position in shares of DexCom by 12.7% during the second quarter. Scholtz & Company LLC now owns 77,334 shares of the medical device company's stock valued at $5,208,000 after buying an additional 8,686 shares during the last quarter. Finally, National Pension Service increased its holdings in DexCom by 3.9% in the 2nd quarter. National Pension Service now owns 660,309 shares of the medical device company's stock worth $44,472,000 after buying an additional 24,756 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DXCM. Citigroup restated a "buy" rating and issued a $88.00 price target (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. Truist Financial set a $93.00 price objective on DexCom and gave the company a "buy" rating in a research note on Friday, July 31st. Canaccord Genuity Group set a $90.00 target price on DexCom and gave the stock a "buy" rating in a report on Monday, August 3rd. Robert W. Baird set a $105.00 target price on DexCom in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their price target on DexCom from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.71.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company's products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.

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