DexCom (NASDAQ:DXCM) Trading Down 5.5%

Shares of DexCom, Inc. (NASDAQ:DXCM) dropped 5.5% during mid-day trading on Thursday . The company traded as low as $140.50 and last traded at $148.32, approximately 3,325,520 shares were traded during trading. An increase of 167% from the average daily volume of 1,245,014 shares. The stock had previously closed at $156.87.

DXCM has been the subject of a number of research reports. Northland Securities reiterated a “hold” rating and set a $125.00 target price on shares of DexCom in a report on Thursday, June 6th. Piper Jaffray Companies increased their target price on DexCom from $173.00 to $182.00 and gave the stock a “positive” rating in a report on Wednesday. ValuEngine downgraded shares of DexCom from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Canaccord Genuity increased their price objective on shares of DexCom from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, TheStreet upgraded shares of DexCom from a “d+” rating to a “c” rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. DexCom currently has a consensus rating of “Buy” and an average target price of $163.71.

The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 480.70 and a beta of 0.80. The stock’s 50 day moving average price is $149.93. The company has a quick ratio of 6.75, a current ratio of 7.18 and a debt-to-equity ratio of 1.57.

DexCom (NASDAQ:DXCM) last issued its earnings results on Wednesday, July 31st. The medical device company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.07. DexCom had a negative net margin of 13.96% and a positive return on equity of 10.64%. The business had revenue of $336.40 million during the quarter, compared to the consensus estimate of $304.40 million. During the same period last year, the business posted ($0.10) EPS. DexCom’s revenue was up 38.7% on a year-over-year basis. Research analysts forecast that DexCom, Inc. will post 0.88 earnings per share for the current fiscal year.

In other DexCom news, SVP Patrick Michael Murphy sold 400 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $116.92, for a total transaction of $46,768.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin R. Sayer sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $115.73, for a total transaction of $694,380.00. The disclosure for this sale can be found here. Insiders sold a total of 63,065 shares of company stock valued at $8,207,313 over the last quarter. 1.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in DexCom by 16.5% during the first quarter. Janus Henderson Group PLC now owns 1,452,485 shares of the medical device company’s stock worth $172,992,000 after acquiring an additional 205,402 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in DexCom by 71.6% during the first quarter. Artisan Partners Limited Partnership now owns 1,164,081 shares of the medical device company’s stock worth $138,642,000 after acquiring an additional 485,519 shares during the last quarter. Geode Capital Management LLC lifted its position in DexCom by 17.2% during the fourth quarter. Geode Capital Management LLC now owns 1,042,131 shares of the medical device company’s stock worth $124,776,000 after acquiring an additional 152,781 shares during the last quarter. Blair William & Co. IL lifted its position in DexCom by 4.6% during the first quarter. Blair William & Co. IL now owns 1,010,355 shares of the medical device company’s stock worth $120,333,000 after acquiring an additional 44,803 shares during the last quarter. Finally, Norges Bank acquired a new stake in DexCom during the fourth quarter worth approximately $107,191,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.

About DexCom (NASDAQ:DXCM)

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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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