DexCom, Inc. (NASDAQ:DXCM) Short Interest Update

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 14,570,000 shares, a drop of 8.2% from the March 15th total of 15,870,000 shares. Based on an average daily volume of 3,090,000 shares, the short-interest ratio is presently 4.7 days.

DexCom Price Performance

DXCM traded up $1.96 during trading on Tuesday, reaching $136.52. 3,036,341 shares of the company were exchanged, compared to its average volume of 2,992,702. DexCom has a 12-month low of $74.75 and a 12-month high of $142.00. The company's 50-day moving average is $129.06 and its two-hundred day moving average is $116.16. The company has a quick ratio of 2.48, a current ratio of 2.84 and a debt-to-equity ratio of 1.18. The company has a market cap of $52.63 billion, a price-to-earnings ratio of 104.21, a P/E/G ratio of 2.34 and a beta of 1.20.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical device company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.07. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 14.95% and a return on equity of 28.31%. The company's revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. Research analysts forecast that DexCom will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DXCM. Piper Sandler upped their target price on shares of DexCom from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 19th. StockNews.com raised shares of DexCom from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd. Raymond James upped their target price on DexCom from $147.00 to $151.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 23rd. UBS Group lifted their price target on DexCom from $153.00 to $163.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Finally, Citigroup upped their price objective on DexCom from $148.00 to $161.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DexCom currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.40.

Insider Buying and Selling

In other DexCom news, CFO Jereme M. Sylvain sold 3,363 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total transaction of $392,562.99. Following the sale, the chief financial officer now owns 71,142 shares of the company's stock, valued at $8,304,405.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sadie Stern sold 20,321 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $133.61, for a total value of $2,715,088.81. Following the transaction, the executive vice president now directly owns 80,441 shares in the company, valued at approximately $10,747,722.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jereme M. Sylvain sold 3,363 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total transaction of $392,562.99. Following the transaction, the chief financial officer now owns 71,142 shares in the company, valued at approximately $8,304,405.66. The disclosure for this sale can be found here. Insiders sold a total of 187,385 shares of company stock valued at $25,256,617 in the last three months. Insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DXCM. Mirae Asset Global Investments Co. Ltd. increased its position in shares of DexCom by 31.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,999 shares of the medical device company's stock worth $138,643,000 after purchasing an additional 65,516 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of DexCom by 3,596.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,109 shares of the medical device company's stock worth $567,000 after acquiring an additional 1,079 shares during the last quarter. West Family Investments Inc. purchased a new position in DexCom in the first quarter worth $209,000. Ergoteles LLC increased its stake in DexCom by 60.6% in the first quarter. Ergoteles LLC now owns 1,681 shares of the medical device company's stock valued at $860,000 after acquiring an additional 634 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in DexCom by 26.4% during the first quarter. Mackenzie Financial Corp now owns 29,516 shares of the medical device company's stock valued at $15,100,000 after purchasing an additional 6,160 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

About DexCom

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.

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