DexCom (NASDAQ:DXCM) Shares Down 4.5% – What’s Next?

DexCom, Inc. (NASDAQ:DXCM) fell 4.5% during trading on Wednesday. The stock traded as low as $82.51 and last traded at $81.9190. 1,303,473 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 4,940,348 shares. The stock had previously closed at $85.74.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Benchmark lifted their target price on DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays upgraded DexCom to a “strong-buy” rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of DexCom from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. Piper Sandler reissued an “overweight” rating and issued a $95.00 price objective (up from $88.00) on shares of DexCom in a research report on Friday, July 31st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $94.00 target price on shares of DexCom in a research note on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $92.43.

DexCom Price Performance

The stock’s 50 day simple moving average is $87.50 and its two-hundred day simple moving average is $76.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 1.44 and a beta of 1.48.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. On average, analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DexCom news, Director Nicholas Augustinos sold 6,539 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $84.04, for a total transaction of $549,537.56. Following the transaction, the director owned 29,293 shares in the company, valued at $2,461,783.72. This trade represents a 18.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Brown sold 1,700 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $85.48, for a total transaction of $145,316.00. Following the sale, the executive vice president owned 98,185 shares in the company, valued at $8,392,853.80. The trade was a 1.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 24,257 shares of company stock worth $2,049,173 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds and other institutional investors have recently bought and sold shares of DXCM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in DexCom by 15.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock valued at $758,487,000 after buying an additional 1,515,702 shares during the last quarter. Janus Henderson Group PLC increased its position in DexCom by 32.3% in the first quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock worth $166,077,000 after buying an additional 645,534 shares during the last quarter. Legal & General Group Plc bought a new position in shares of DexCom during the 2nd quarter worth $173,237,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of DexCom by 100.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock valued at $159,832,000 after buying an additional 1,275,142 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of DexCom during the 2nd quarter valued at $164,035,000. Institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

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.