DexCom (NASDAQ:DXCM) Trading 7.3% Higher – Still a Buy?

DexCom, Inc. (NASDAQ:DXCM)’s stock price was up 7.3% on Friday . The stock traded as high as $81.45 and last traded at $81.33. Approximately 3,145,862 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 3,875,871 shares. The stock had previously closed at $75.82.

Analysts Set New Price Targets

DXCM has been the subject of several analyst reports. Canaccord Genuity Group boosted their price target on shares of DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus increased their price objective on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Raymond James lowered their price target on DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a report on Friday, October 25th. Oppenheimer reduced their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

DexCom Price Performance

The company has a market cap of $31.52 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.46 and a beta of 1.12. The stock has a fifty day simple moving average of $74.32 and a two-hundred day simple moving average of $83.35. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the sale, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. This represents a 5.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC grew its holdings in DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after buying an additional 6,544,102 shares during the period. Westfield Capital Management Co. LP grew its holdings in DexCom by 44.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares during the period. Two Sigma Advisers LP raised its stake in DexCom by 182.7% during the third quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after purchasing an additional 739,000 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of DexCom by 189.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock worth $25,967,000 after buying an additional 369,587 shares during the period. Hedge funds and other institutional investors 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.