Kevin Sayer Sells 26,756 Shares of DexCom (NASDAQ:DXCM) Stock

Key Points

• DexCom insider Kevin Sayer sold 26,756 shares at an average price of $76.32, generating approximately $2.04 million. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 7.52% to 328,970 shares.
• DexCom shares rose 3.2% to $75.75, while the company reported quarterly revenue of $1.19 billion and adjusted earnings of $0.56 per share, beating analyst expectations. Revenue increased 15% year over year.
• Wall Street remains broadly positive, with DexCom receiving a “Moderate Buy” consensus rating and an average price target of $85.40; institutional investors own 97.75% of the stock.

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) insider Kevin Sayer sold 26,756 shares of the firm's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total value of $2,042,017.92. Following the transaction, the insider owned 328,970 shares in the company, valued at approximately $25,106,990.40. This represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DexCom Stock Up 3.2%

NASDAQ:DXCM traded up $2.38 during mid-day trading on Tuesday, reaching $75.75. The company's stock had a trading volume of 1,200,643 shares, compared to its average volume of 5,187,351. DexCom, Inc. has a 1 year low of $54.11 and a 1 year high of $89.98. The stock has a fifty day moving average of $72.63 and a 200-day moving average of $68.97. The firm has a market capitalization of $29.23 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. The company has a quick ratio of 1.64, a current ratio of 1.95 and a debt-to-equity ratio of 0.42.

DexCom (NASDAQ:DXCM - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.09. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $0.32 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Reflection Asset Management purchased a new stake in shares of DexCom during the fourth quarter worth about $25,000. Ascentis Independent Advisors acquired a new stake in DexCom in the 1st quarter worth approximately $25,000. MCF Advisors LLC acquired a new stake in DexCom in the 4th quarter worth approximately $32,000. ORG Partners LLC grew its position in DexCom by 124.3% during the 4th quarter. ORG Partners LLC now owns 507 shares of the medical device company's stock worth $34,000 after purchasing an additional 281 shares during the last quarter. Finally, Wellington Grp LLC increased its stake in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock valued at $34,000 after purchasing an additional 475 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DXCM. Sanford C. Bernstein set a $77.00 target price on DexCom in a report on Friday, May 1st. Stifel Nicolaus set a $90.00 price target on DexCom and gave the stock a "buy" rating in a research report on Friday, June 5th. Weiss Ratings upgraded DexCom from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 8th. Citigroup reaffirmed a "buy" rating and set a $84.00 price objective (up from $79.00) on shares of DexCom in a research report on Thursday, May 28th. Finally, Benchmark reiterated a "buy" rating on shares of DexCom in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DexCom currently has an average rating of "Moderate Buy" and an average target price of $85.40.

DexCom Company Profile

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.

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