DexCom (NASDAQ:DXCM) Shares Up 3.7% – What’s Next?

Shares of DexCom, Inc. (NASDAQ:DXCM) shot up 3.7% during trading on Thursday . The stock traded as high as $84.46 and last traded at $83.35. 480,367 shares traded hands during trading, a decline of 85% from the average session volume of 3,277,229 shares. The stock had previously closed at $80.40.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Baird R W upgraded shares of DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Raymond James dropped their price objective on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, DexCom currently has a consensus rating of “Moderate Buy” and an average target price of $99.29.

DexCom Stock Performance

The company has a fifty day moving average price of $78.17 and a two-hundred day moving average price of $78.22. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12.

Insider Buying and Selling

In related 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 value of $318,275.07. Following the completion of the transaction, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in DexCom by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock worth $664,056,000 after purchasing an additional 214,136 shares during the period. Jennison Associates LLC increased its stake in DexCom by 1,683.2% in the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after buying an additional 6,544,102 shares during the period. Legal & General Group Plc lifted its position in DexCom by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock worth $339,352,000 after buying an additional 49,076 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of DexCom by 1.1% during the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock valued at $1,912,000 after buying an additional 31,358 shares during the period. Finally, Westfield Capital Management Co. LP grew its holdings in shares of DexCom by 44.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after acquiring an additional 876,739 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.