DexCom (NASDAQ:DXCM) Shares Gap Up – What’s Next?

Shares of DexCom, Inc. (NASDAQ:DXCM) gapped up before the market opened on Monday . The stock had previously closed at $77.76, but opened at $82.00. DexCom shares last traded at $78.42, with a volume of 540,973 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DXCM. Citigroup boosted their price objective on shares of DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Raymond James reduced their price target on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their target price on DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Oppenheimer lowered their price target on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Seven equities research 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. Based on data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average target price of $98.00.

DexCom Stock Down 2.0 %

The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The stock’s 50-day moving average price is $76.93 and its 200-day moving average price is $78.84. The company has a market cap of $29.76 billion, a P/E ratio of 45.62, a PEG ratio of 2.36 and a beta of 1.12.

Insiders Place Their Bets

In other DexCom 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 sale, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc bought a new position in DexCom in the 4th quarter valued at $25,000. Riverview Trust Co grew its stake in shares of DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after buying an additional 232 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in DexCom in the 3rd quarter worth approximately $57,000. Covestor Ltd raised its holdings in DexCom by 53.7% during the 3rd quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock valued at $64,000 after buying an additional 335 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of DexCom by 101.9% during the third 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 during the period. 97.75% of the stock is currently owned by institutional investors.

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.