Insider Selling: DexCom (NASDAQ:DXCM) Director Sells 2,000 Shares

Key Points

• DexCom Director Mark Foletta sold 2,000 shares at an average price of $85.32, generating $170,640. The Rule 10b5-1 transaction reduced his holdings by 3.93%, leaving him with 48,852 shares.
• DexCom reported quarterly EPS of $0.70, beating estimates of $0.61, while revenue reached $1.31 billion and rose 13.1% year over year.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an $88.71 price target; shares recently traded at $86.94.

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) Director Mark Foletta sold 2,000 shares of DexCom stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $85.32, for a total transaction of $170,640.00. Following the completion of the transaction, the director owned 48,852 shares in the company, valued at approximately $4,168,052.64. This trade represents a 3.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DexCom Trading Down 0.4%

Shares of DXCM stock traded down $0.37 on Tuesday, reaching $86.94. 5,993,713 shares of the stock were exchanged, compared to its average volume of 5,297,699. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The stock has a market cap of $32.81 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.41. The firm has a 50 day moving average of $73.44 and a two-hundred day moving average of $69.31. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $87.85.

DexCom (NASDAQ:DXCM - Get Free Report) last posted 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. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The firm's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, research analysts anticipate that DexCom, Inc. will post 2.6 EPS for the current year.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently bought and sold shares of DXCM. Norges Bank purchased a new stake in shares of DexCom during the fourth quarter worth about $483,356,000. AQR Capital Management LLC boosted its holdings in DexCom by 597.8% in the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company's stock valued at $205,932,000 after purchasing an additional 2,658,158 shares during the last quarter. Employees Provident Fund Board purchased a new position in DexCom in the fourth quarter valued at about $145,352,000. J. Stern & Co. LLP grew its stake in DexCom by 2,114.8% during the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company's stock valued at $106,323,000 after purchasing an additional 1,529,641 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in DexCom by 271.4% during the 1st quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company's stock valued at $129,699,000 after purchasing an additional 1,509,219 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on DXCM shares. Piper Sandler restated an "overweight" rating and issued a $95.00 price target (up from $88.00) on shares of DexCom in a report on Friday. Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the stock a "buy" rating in a research note on Friday. Citigroup reissued a "buy" rating and issued a $88.00 price objective (up from $84.00) on shares of DexCom in a research report on Friday. Robert W. Baird set a $105.00 target price on shares of DexCom in a research note on Friday. Finally, Royal Bank Of Canada lifted their target price on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, DexCom presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.71.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company's offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source