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

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

Insider Activity

In related news, CEO Kevin R. Sayer sold 49,633 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were 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 in the company, valued at $39,262,401.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Jereme M. Sylvain sold 3,363 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total value of $392,562.99. Following the transaction, the chief financial officer now directly owns 71,142 shares in the company, valued at $8,304,405.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin R. Sayer sold 49,633 shares of DexCom stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $138.30, for a total transaction 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 approximately $39,262,401.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,385 shares of company stock valued at $25,256,617. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DXCM. KB Financial Partners LLC bought a new position in shares of DexCom during the first quarter worth about $72,000. Bartlett & CO. Wealth Management LLC bought a new position in DexCom during the 4th quarter worth approximately $27,000. DSM Capital Partners LLC acquired a new position in shares of DexCom in the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in shares of DexCom during the first quarter worth $32,000. Finally, Valley National Advisers Inc. raised its stake in DexCom by 73.0% during the fourth quarter. Valley National Advisers Inc. now owns 244 shares of the medical device company’s stock worth $30,000 after buying an additional 103 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Trading Up 1.5 %

DexCom stock traded up $1.96 during trading hours on Tuesday, hitting $136.52. The stock had a trading volume of 3,036,341 shares, compared to its average volume of 2,992,702. The stock has a market cap of $52.63 billion, a price-to-earnings ratio of 104.21, a P/E/G ratio of 2.34 and a beta of 1.20. The company has a quick ratio of 2.48, a current ratio of 2.84 and a debt-to-equity ratio of 1.18. The business’s 50 day simple moving average is $129.06 and its 200-day simple moving average is $116.16. DexCom has a one year low of $74.75 and a one year high of $142.00.

DexCom (NASDAQ:DXCM) last posted its 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. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.95% and a return on equity of 28.31%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. On average, equities analysts predict that DexCom will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Piper Sandler upped their target price on DexCom from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Royal Bank of Canada initiated coverage on DexCom in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price target for the company. Raymond James increased their price objective on shares of DexCom from $147.00 to $151.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 23rd. Finally, Citigroup raised 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. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, DexCom has an average rating of “Moderate Buy” and an average target price of $141.40.

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.