DexCom, Inc. (NASDAQ:DXCM) Short Interest Update

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 10,310,000 shares, a growth of 14.4% from the June 15th total of 9,010,000 shares. Based on an average daily volume of 2,740,000 shares, the days-to-cover ratio is currently 3.8 days.

DexCom Stock Performance

DXCM traded down $1.45 during trading on Wednesday, hitting $114.61. The company’s stock had a trading volume of 2,562,729 shares, compared to its average volume of 2,872,196. The business’s 50 day simple moving average is $118.66 and its 200-day simple moving average is $124.79. The firm has a market cap of $45.58 billion, a PE ratio of 73.94, a P/E/G ratio of 2.76 and a beta of 1.16. DexCom has a one year low of $74.75 and a one year high of $142.00. The company has a quick ratio of 2.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.08.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, April 25th. The medical device company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. DexCom had a return on equity of 31.01% and a net margin of 16.82%. The company had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $911.20 million. As a group, sell-side analysts predict that DexCom will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DXCM has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on DexCom from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Citigroup lifted their price objective on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group raised their price target on DexCom from $144.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 26th. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Finally, Redburn Atlantic assumed coverage on shares of DexCom in a report on Thursday, May 30th. They issued a “neutral” rating and a $130.00 target price for the company. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.33.

Insiders Place Their Bets

In related news, Director Bridgette P. Heller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the completion of the transaction, the director now owns 25,349 shares of the company’s stock, valued at $2,878,378.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $119.24, for a total value of $77,744.48. Following the sale, the executive vice president now owns 67,560 shares of the company’s stock, valued at approximately $8,055,854.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $113.55, for a total value of $113,550.00. Following the completion of the sale, the director now owns 25,349 shares of the company’s stock, valued at approximately $2,878,378.95. The disclosure for this sale can be found here. Insiders sold 4,112 shares of company stock worth $480,861 over the last quarter. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. CX Institutional purchased a new position in DexCom during the fourth quarter valued at approximately $286,000. Bank of New Hampshire purchased a new position in shares of DexCom during the 1st quarter valued at $1,508,000. abrdn plc boosted its holdings in DexCom by 21.1% in the 4th quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock worth $47,221,000 after buying an additional 66,348 shares during the period. Cerity Partners LLC increased its stake in 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 buying an additional 456,097 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of DexCom by 21.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,756,216 shares of the medical device company’s stock worth $217,929,000 after acquiring an additional 310,728 shares during the period. 97.75% of the stock is currently owned by institutional investors.

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.