Short Interest in DexCom, Inc. (NASDAQ:DXCM) Drops By 8.2%

DexCom, Inc. (NASDAQ:DXCM) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 14,570,000 shares, a decline 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 currently 4.7 days.

DexCom Stock Down 1.6 %

Shares of DXCM stock traded down $2.22 on Wednesday, reaching $134.30. 429,391 shares of the company were exchanged, compared to its average volume of 2,956,752. The company has a market cap of $51.78 billion, a price-to-earnings ratio of 104.21, a PEG ratio of 2.31 and a beta of 1.20. The company has a 50-day moving average of $129.06 and a 200-day moving average of $116.16. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.84 and a quick ratio of 2.48. DexCom has a one year low of $74.75 and a one year high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data 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. DexCom had a net margin of 14.95% and a return on equity of 28.31%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The business’s revenue was up 26.9% on a year-over-year basis. Analysts anticipate that DexCom will post 1.76 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 81,007 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 can be accessed through the SEC website. In other 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 completion of the transaction, the chief financial officer now directly owns 71,142 shares in the company, valued at $8,304,405.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Sayer sold 81,007 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $133.36, for a total transaction of $10,803,093.52. Following the transaction, the chief executive officer now owns 333,526 shares of the company’s stock, valued at $44,479,027.36. The disclosure for this sale can be found here. Insiders sold a total of 187,385 shares of company stock worth $25,256,617 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On DexCom

Institutional investors and hedge funds have recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC raised its holdings in shares of DexCom by 11.1% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock worth $108,000 after acquiring an additional 115 shares during the last quarter. CX Institutional acquired a new stake in shares of DexCom in the 4th quarter worth about $286,000. Cerity Partners LLC raised its holdings in shares of DexCom by 5,791.0% in the 4th 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. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of DexCom in the 4th quarter worth about $57,000. Finally, Intelligence Driven Advisers LLC purchased a new stake in DexCom in the 3rd quarter valued at about $525,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of DexCom in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price objective on the stock. StockNews.com raised shares of DexCom from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Raymond James boosted their price objective on shares of DexCom from $147.00 to $151.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 23rd. Citigroup boosted their price objective on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, UBS Group upped their price target 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. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.40.

DexCom Company Profile

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.