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

DexCom, Inc. (NASDAQ:DXCM)’s stock price gapped down before the market opened 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DXCM shares. Royal Bank of Canada started coverage on DexCom in a report on Tuesday, March 12th. They set an “outperform” rating and a $165.00 target price on the stock. UBS Group increased their target price on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. StockNews.com cut DexCom from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Raymond James increased their target price on DexCom from $151.00 to $160.00 and gave the company a “strong-buy” rating in a report on Friday. Finally, Canaccord Genuity Group increased their target price on DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and an average target price of $141.67.

DexCom Trading Down 9.9 %

The company has a current ratio of 2.84, a quick ratio of 2.48 and a debt-to-equity ratio of 1.18. The company has a market cap of $49.24 billion, a PE ratio of 80.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.20. The business has a 50 day simple moving average of $131.13 and a two-hundred day simple moving average of $118.53.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, April 25th. The medical device company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $921.00 million for the quarter, compared to analyst estimates of $911.20 million. DexCom had a return on equity of 31.38% and a net margin of 16.82%. On average, analysts forecast that DexCom, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jereme M. Sylvain sold 3,363 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total value of $392,562.99. Following the transaction, the chief financial officer now directly owns 71,142 shares of the company’s stock, valued at approximately $8,304,405.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other DexCom news, EVP Matthew Vincent Dolan sold 1,990 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $137.81, for a total value of $274,241.90. Following the transaction, the executive vice president now directly owns 42,377 shares of the company’s stock, valued at $5,839,974.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jereme M. Sylvain sold 3,363 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total value of $392,562.99. Following the completion of the transaction, the chief financial officer now directly owns 71,142 shares in the company, valued at $8,304,405.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,375 shares of company stock valued at $25,530,859. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC raised its position in 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 during the period. CX Institutional purchased a new position in DexCom in the fourth quarter valued at about $286,000. abrdn plc raised its position in DexCom by 21.1% in the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after purchasing an additional 66,348 shares during the period. Cerity Partners LLC raised its position 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 valued at $57,574,000 after purchasing an additional 456,097 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in DexCom in the fourth quarter valued at about $57,000. 97.75% of the stock is 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.