DexCom, Inc. (NASDAQ:DXCM) Short Interest Down 5.7% in December

DexCom, Inc. (NASDAQ:DXCM) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 8,800,000 shares, a decrease of 5.7% from the December 15th total of 9,330,000 shares. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on DXCM. Citigroup boosted their target price on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Baird R W raised DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday. Royal Bank of Canada reduced their target price on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Oppenheimer reduced their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.29.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 4,259 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the sale, the executive vice president now owns 71,192 shares of the company’s stock, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of DexCom by 41.3% during the second quarter. Dimensional Fund Advisors LP now owns 919,650 shares of the medical device company’s stock worth $104,282,000 after buying an additional 268,802 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in DexCom by 2.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 55,054 shares of the medical device company’s stock worth $6,242,000 after acquiring an additional 1,229 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of DexCom by 9.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,976 shares of the medical device company’s stock worth $678,000 after acquiring an additional 512 shares in the last quarter. Kentucky Retirement Systems raised its holdings in shares of DexCom by 2.4% in the second quarter. Kentucky Retirement Systems now owns 29,968 shares of the medical device company’s stock valued at $3,398,000 after purchasing an additional 691 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of DexCom in the second quarter worth $266,000. 97.75% of the stock is owned by institutional investors and hedge funds.

DexCom Stock Performance

Shares of DXCM opened at $84.38 on Friday. The firm has a market cap of $32.96 billion, a P/E ratio of 50.53, a PEG ratio of 2.00 and a beta of 1.12. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The firm’s 50 day moving average price is $78.17 and its two-hundred day moving average price is $77.98.

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.