DexCom, Inc. (NASDAQ:DXCM) Sees Significant Growth in Short Interest

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 8,740,000 shares, a growth of 12.3% from the May 15th total of 7,780,000 shares. Based on an average trading volume of 2,690,000 shares, the short-interest ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DXCM shares. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Redburn Atlantic assumed coverage on DexCom in a research note on Thursday, May 30th. They issued a “neutral” rating and a $130.00 target price on the stock. Raymond James raised their price target on DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on DexCom from $144.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup upped their target price on shares of DexCom from $148.00 to $161.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.94.

Insider Buying and Selling

In other DexCom news, CEO Kevin R. Sayer sold 49,633 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $138.30, for a total value of $6,864,243.90. Following the completion of the sale, the chief executive officer now owns 283,893 shares of the company’s stock, valued at $39,262,401.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Michael Jon Brown sold 2,624 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $140.04, for a total value of $367,464.96. Following the sale, the executive vice president now owns 68,682 shares in the company, valued at approximately $9,618,227.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin R. Sayer sold 49,633 shares of DexCom stock in a transaction on Monday, April 8th. The stock was sold at an average price of $138.30, for a total value of $6,864,243.90. Following the transaction, the chief executive officer now directly owns 283,893 shares of the company’s stock, valued at $39,262,401.90. The disclosure for this sale can be found here. Insiders have sold 60,837 shares of company stock valued at $8,377,125 over the last quarter. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently made changes to their positions in DXCM. Prudential PLC boosted its position in shares of DexCom by 49.2% in the third quarter. Prudential PLC now owns 20,562 shares of the medical device company’s stock worth $1,918,000 after buying an additional 6,777 shares during the period. Rafferty Asset Management LLC grew its position in DexCom by 34.7% in the third quarter. Rafferty Asset Management LLC now owns 127,976 shares of the medical device company’s stock valued at $11,940,000 after acquiring an additional 32,941 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of DexCom during the third quarter valued at approximately $866,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of DexCom during the third quarter worth $2,335,000. Finally, Envestnet Asset Management Inc. grew its holdings in DexCom by 12.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 657,234 shares of the medical device company’s stock valued at $61,320,000 after purchasing an additional 72,850 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Trading Up 1.9 %

Shares of DexCom stock traded up $2.14 during trading hours on Friday, reaching $115.95. The stock had a trading volume of 1,813,855 shares, compared to its average volume of 2,695,514. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 74.81, a P/E/G ratio of 2.83 and a beta of 1.22. DexCom has a 1 year low of $74.75 and a 1 year high of $142.00. The company has a current ratio of 2.90, a quick ratio of 2.53 and a debt-to-equity ratio of 1.08. The firm has a 50 day simple moving average of $127.57 and a two-hundred day simple moving average of $125.98.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 25th. The medical device company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The firm had revenue of $921.00 million for the quarter, compared to analyst estimates of $911.20 million. As a group, equities research analysts anticipate that DexCom will post 1.78 earnings per share for the current year.

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.