DexCom (NASDAQ:DXCM) Shares Gap Down to $138.01

DexCom, Inc. (NASDAQ:DXCM)’s share price gapped down prior to trading on Friday . The stock had previously closed at $138.01, but opened at $132.50. DexCom shares last traded at $130.57, with a volume of 1,759,920 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DXCM. Canaccord Genuity Group boosted their price objective on shares of DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada initiated coverage on shares of DexCom in a research report on Tuesday, March 12th. They set an “outperform” rating and a $165.00 target price for the company. Citigroup increased their target price on shares of DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, UBS Group increased their target price on shares of DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.67.

DexCom Trading Down 9.9 %

The stock has a market capitalization of $49.24 billion, a price-to-earnings ratio of 97.41, a PEG ratio of 2.37 and a beta of 1.20. The company’s 50-day moving average is $130.98 and its 200-day moving average is $118.02. The company has a quick ratio of 2.48, a current ratio of 2.84 and a debt-to-equity ratio of 1.18.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. DexCom had a net margin of 14.95% and a return on equity of 28.31%. The firm had revenue of $921.00 million during the quarter, compared to analysts’ expectations of $911.20 million. Research analysts anticipate that DexCom, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DexCom news, CEO Kevin R. Sayer sold 81,007 shares of DexCom stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $133.36, for a total transaction of $10,803,093.52. Following the completion of the sale, the chief executive officer now directly owns 333,526 shares in the company, valued at $44,479,027.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other DexCom news, CEO Kevin R. Sayer sold 81,007 shares of DexCom stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $133.36, for a total transaction of $10,803,093.52. Following the completion of the sale, the chief executive officer now directly owns 333,526 shares in the company, valued at $44,479,027.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jereme M. Sylvain sold 3,363 shares of DexCom stock in a transaction dated 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,375 shares of company stock worth $25,530,859. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC grew its holdings in shares of DexCom by 11.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock valued at $108,000 after purchasing an additional 115 shares in the last quarter. CX Institutional purchased a new position in DexCom in the fourth quarter worth approximately $286,000. abrdn plc lifted its stake in DexCom by 21.1% in the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after acquiring an additional 66,348 shares during the last quarter. Cerity Partners LLC lifted its stake in DexCom by 5,791.0% in the fourth quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after acquiring an additional 456,097 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in DexCom in the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

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.