DexCom (NASDAQ:DXCM) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

Shares of DexCom, Inc. (NASDAQ:DXCM) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $85.49 and traded as high as $88.96. DexCom shares last traded at $88.4310, with a volume of 5,248,232 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DXCM shares. Jefferies Financial Group increased their price objective on shares of DexCom from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Benchmark lifted their target price on DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Leerink Partners dropped their target price on DexCom from $94.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday, October 26th. Mizuho set a $100.00 price target on DexCom in a research report on Tuesday, October 13th. Finally, Barclays boosted their price target on DexCom from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, DexCom currently has a consensus rating of “Buy” and an average price target of $95.50.

DexCom Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.74 and a quick ratio of 1.40. The stock has a 50-day moving average price of $85.49 and a 200-day moving average price of $74.89. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.37 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, October 29th. The medical device company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. DexCom had a return on equity of 37.77% and a net margin of 19.42%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that DexCom, Inc. will post 2.67 earnings per share for the current year.

Insider Activity at DexCom

In other news, EVP Sadie Stern sold 2,565 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $88.37, for a total transaction of $226,669.05. Following the completion of the sale, the executive vice president owned 126,043 shares in the company, valued at approximately $11,138,419.91. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total transaction of $549,537.56. Following the completion of the transaction, the director owned 29,293 shares in the company, valued at approximately $2,461,783.72. This trade represents a 18.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,822 shares of company stock valued at $1,920,193 over the last three months. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of large investors have recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in DexCom in the 2nd quarter valued at $782,000. Aurora Investment Counsel acquired a new stake in shares of DexCom during the second quarter worth $2,340,000. E Fund Management Co. Ltd. acquired a new stake in shares of DexCom during the second quarter worth $1,273,000. Silvant Capital Management LLC bought a new stake in shares of DexCom in the second quarter valued at about $5,359,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of DexCom in the second quarter valued at about $89,940,000. Institutional investors own 97.75% of the company’s stock.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.