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

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 8,420,000 shares, a decline of 7.7% from the November 15th total of 9,120,000 shares. Based on an average daily volume of 4,170,000 shares, the short-interest ratio is currently 2.0 days.

Insider Buying and Selling at DexCom

In other 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 transaction, the executive vice president now owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DXCM. Blue Whale Capital LLP raised its position in DexCom by 91.9% in the third quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock valued at $15,821,000 after purchasing an additional 113,000 shares during the last quarter. Taylor Frigon Capital Management LLC increased its stake in shares of DexCom by 51.6% in the third quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock valued at $2,182,000 after buying an additional 11,075 shares during the period. Brooktree Capital Management bought a new stake in DexCom during the 3rd quarter worth approximately $683,000. National Pension Service increased its position in DexCom by 4.1% in the 3rd quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock valued at $63,671,000 after acquiring an additional 37,363 shares during the period. Finally, Intact Investment Management Inc. bought a new position in shares of DexCom during the third quarter valued at $650,000. 97.75% of the stock is currently owned by institutional investors.

DexCom Price Performance

Shares of DXCM traded up $1.39 during mid-day trading on Tuesday, reaching $77.80. The company had a trading volume of 3,612,873 shares, compared to its average volume of 3,883,869. The company has a market capitalization of $30.39 billion, a price-to-earnings ratio of 45.75, a P/E/G ratio of 2.46 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The company’s 50 day simple moving average is $73.91 and its 200 day simple moving average is $83.75. DexCom has a 1-year low of $62.34 and a 1-year high of $142.00.

Analysts Set New Price Targets

A number of brokerages have commented on DXCM. Royal Bank of Canada decreased their price objective on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Canaccord Genuity Group raised their price target on shares of DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their price objective on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

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.