DexCom (NASDAQ:DXCM) Shares Gap Down to $75.25

Shares of DexCom, Inc. (NASDAQ:DXCM) gapped down before the market opened on Wednesday . The stock had previously closed at $75.25, but opened at $72.01. DexCom shares last traded at $72.18, with a volume of 522,374 shares changing hands.

Analysts Set New Price Targets

Several research firms have commented on DXCM. JPMorgan Chase & Co. lowered DexCom from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $75.00 in a research report on Friday, July 26th. Robert W. Baird increased their price target on shares of DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday. Redburn Atlantic initiated coverage on shares of DexCom in a report on Thursday, May 30th. They issued a “neutral” rating and a $130.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, UBS Group dropped their target price on DexCom from $163.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.63.

DexCom Stock Down 5.6 %

The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $107.19 and a two-hundred day simple moving average of $121.03. The company has a market cap of $28.25 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts predict that DexCom, Inc. will post 1.69 earnings per share for the current year.

Insider Activity

In related news, EVP Sadie Stern sold 427 shares of DexCom stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total transaction of $49,126.35. Following the transaction, the executive vice president now owns 75,877 shares in the company, valued at $8,729,648.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Sadie Stern sold 427 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $115.05, for a total value of $49,126.35. Following the completion of the sale, the executive vice president now owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the sale, the executive vice president now directly owns 67,560 shares in the company, valued at approximately $8,055,854.40. The disclosure for this sale can be found here. Insiders sold 4,135 shares of company stock worth $446,797 over the last ninety days. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sachetta LLC increased its holdings in DexCom by 255.2% in the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 171 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of DexCom by 3.2% in the second quarter. Royal London Asset Management Ltd. now owns 157,505 shares of the medical device company’s stock valued at $17,858,000 after buying an additional 4,853 shares in the last quarter. Prudential PLC grew its stake in shares of DexCom by 38.6% in the second quarter. Prudential PLC now owns 13,545 shares of the medical device company’s stock valued at $1,536,000 after buying an additional 3,769 shares in the last quarter. Quest Partners LLC raised its holdings in shares of DexCom by 473.8% in the 2nd quarter. Quest Partners LLC now owns 4,298 shares of the medical device company’s stock valued at $487,000 after buying an additional 3,549 shares during the period. Finally, Caprock Group LLC lifted its stake in DexCom by 38.1% during the 2nd quarter. Caprock Group LLC now owns 8,595 shares of the medical device company’s stock worth $975,000 after acquiring an additional 2,370 shares in the last quarter. 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.