DexCom (NASDAQ:DXCM) Stock Price Down 4.5% – What’s Next?

DexCom, Inc. (NASDAQ:DXCM) fell 4.5% during trading on Wednesday. The stock traded as low as $82.51 and last traded at $81.9190. Approximately 1,303,473 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 4,940,348 shares. The stock had previously closed at $85.74.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird set a $105.00 price target on shares of DexCom in a report on Friday, July 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price target (up from $90.00) on shares of DexCom in a report on Thursday, October 1st. TD Cowen reissued a “buy” rating and issued a $95.00 price target on shares of DexCom in a report on Friday, September 18th. Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Citigroup reaffirmed a “buy” rating and set a $88.00 price objective (up from $84.00) on shares of DexCom in a research note on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, DexCom presently has a consensus rating of “Buy” and a consensus target price of $92.43.

DexCom Stock Down 2.4%

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock has a market capitalization of $29.55 billion, a PE ratio of 30.96, a PEG ratio of 1.34 and a beta of 1.48. The company has a 50 day moving average price of $87.03 and a 200-day moving average price of $76.53.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, July 30th. The medical device company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, analysts forecast that DexCom, Inc. will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Jereme M. Sylvain sold 3,638 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $83.27, for a total transaction of $302,936.26. Following the transaction, the executive vice president directly owned 146,828 shares of the company’s stock, valued at approximately $12,226,367.56. The trade was a 2.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Foletta sold 2,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $85.32, for a total transaction of $170,640.00. Following the completion of the transaction, the director owned 48,852 shares of the company’s stock, valued at $4,168,052.64. This trade represents a 3.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 24,257 shares of company stock worth $2,049,173. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of DexCom by 15.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after acquiring an additional 1,515,702 shares during the period. Legal & General Group Plc bought a new position in shares of DexCom in the 2nd quarter worth approximately $173,237,000. Janus Henderson Group PLC raised its position in shares of DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock worth $166,077,000 after acquiring an additional 645,534 shares in the last quarter. Deutsche Bank AG bought a new position in shares of DexCom in the 2nd quarter worth approximately $164,035,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock worth $159,832,000 after acquiring an additional 1,275,142 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its devices use a small wearable sensor to measure glucose levels in real time and transmit readings to compatible smartphones, receivers, smartwatches, and other connected devices, helping users monitor glucose trends and make informed decisions about their health.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 CGM systems, as well as Dexcom ONE and Dexcom ONE+ products offered in select markets.