Short Interest in DexCom, Inc. (NASDAQ:DXCM) Drops By 8.2%

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 14,570,000 shares, a decline of 8.2% from the March 15th total of 15,870,000 shares. Based on an average trading volume of 3,090,000 shares, the short-interest ratio is currently 4.7 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded DexCom from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Raymond James lifted their price target on DexCom from $147.00 to $151.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 23rd. Piper Sandler lifted their price target on DexCom from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. UBS Group lifted their price target on DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Citigroup lifted their price target on DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.40.

DexCom Stock Down 1.6 %

Shares of DXCM stock traded down $2.22 on Wednesday, reaching $134.30. 429,391 shares of the company’s stock traded hands, compared to its average volume of 2,956,752. DexCom has a 12-month low of $74.75 and a 12-month high of $142.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84. The company has a market capitalization of $51.78 billion, a P/E ratio of 104.21, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20. The business’s 50 day moving average price is $129.06 and its two-hundred day moving average price is $116.16.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, February 8th. The medical device company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. DexCom had a return on equity of 28.31% and a net margin of 14.95%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts forecast that DexCom will post 1.76 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other DexCom news, CFO Jereme M. Sylvain sold 3,363 shares of DexCom stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total transaction of $392,562.99. Following the sale, the chief financial officer now owns 71,142 shares of the company’s stock, valued at approximately $8,304,405.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DexCom news, CEO Kevin R. Sayer sold 81,007 shares of DexCom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $133.36, for a total transaction of $10,803,093.52. Following the sale, the chief executive officer now owns 333,526 shares of the company’s stock, valued at approximately $44,479,027.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jereme M. Sylvain sold 3,363 shares of DexCom stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total value of $392,562.99. Following the sale, the chief financial officer now directly owns 71,142 shares in the company, valued at approximately $8,304,405.66. The disclosure for this sale can be found here. Insiders have sold 187,385 shares of company stock valued at $25,256,617 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On DexCom

Large investors have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC acquired a new position in shares of DexCom during the 4th quarter worth about $27,000. DSM Capital Partners LLC acquired a new position in shares of DexCom during the 4th quarter worth about $28,000. Valley National Advisers Inc. lifted its position in shares of DexCom by 73.0% during the 4th quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock worth $30,000 after purchasing an additional 103 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of DexCom by 55.6% during the 3rd quarter. Harbour Investments Inc. now owns 336 shares of the medical device company’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of DexCom during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

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.