DexCom (NASDAQ:DXCM) Sees Unusually-High Trading Volume – Here’s What Happened

DexCom, Inc. (NASDAQ:DXCM) shares saw an uptick in trading volume on Friday . 1,644,516 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 2,209,038 shares.The stock last traded at $78.34 and had previously closed at $80.09.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DXCM. Citigroup lifted their price objective on DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Raymond James cut their target price on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company boosted their price target 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 price objective on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

DexCom Stock Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. The company has a market cap of $30.33 billion, a PE ratio of 46.49, a PEG ratio of 2.46 and a beta of 1.12. The stock has a 50 day simple moving average of $76.78 and a two-hundred day simple moving average of $79.52.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the sale, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DexCom

A number of large investors have recently bought and sold shares of DXCM. Versant Capital Management Inc purchased a new stake in DexCom in the 4th quarter valued at approximately $25,000. Riverview Trust Co grew its holdings in DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after acquiring an additional 232 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in DexCom in the third quarter worth $57,000. Covestor Ltd lifted its holdings in DexCom by 53.7% in the third quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock valued at $64,000 after acquiring an additional 335 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of DexCom by 101.9% during the 3rd quarter. Blue Trust Inc. now owns 1,779 shares of the medical device company’s stock worth $119,000 after purchasing an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.