DexCom Sees Unusually High Options Volume (NASDAQ:DXCM)

DexCom, Inc. (NASDAQ:DXCM) was the recipient of unusually large options trading on Monday. Stock investors bought 13,720 call options on the company. This is an increase of 43% compared to the typical volume of 9,588 call options.

Analysts Set New Price Targets

Several research firms have issued reports on DXCM. Canaccord Genuity Group restated a “buy” rating and set a $145.00 target price on shares of DexCom in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. downgraded DexCom from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $75.00 in a research report on Friday, July 26th. Robert W. Baird increased their price objective on DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Oppenheimer reduced their target price on DexCom from $150.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Baird R W cut DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.63.

DexCom Stock Performance

NASDAQ:DXCM traded up $3.04 during trading hours on Monday, reaching $77.69. The company had a trading volume of 3,618,705 shares, compared to its average volume of 3,756,195. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00. The firm has a market cap of $30.90 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 2.18 and a beta of 1.16. The firm’s 50 day moving average price is $99.67 and its 200-day moving average price is $118.01.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, July 25th. The medical device company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, analysts forecast that DexCom will post 1.69 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 427 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $49,126.35. Following the completion of the transaction, the executive vice president now directly owns 75,877 shares of the company’s stock, valued at $8,729,648.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other DexCom news, EVP Michael Jon Brown sold 652 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $119.24, for a total transaction of $77,744.48. Following the completion of the transaction, the executive vice president now directly owns 67,560 shares of the company’s stock, valued at $8,055,854.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sadie Stern sold 427 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $115.05, for a total value of $49,126.35. Following the sale, the executive vice president now owns 75,877 shares in the company, valued at approximately $8,729,648.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,135 shares of company stock valued at $446,797. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of DexCom by 4.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,928 shares of the medical device company’s stock worth $445,000 after purchasing an additional 162 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of DexCom by 18.3% in the 2nd quarter. NewEdge Advisors LLC now owns 9,020 shares of the medical device company’s stock worth $1,023,000 after purchasing an additional 1,393 shares during the period. Creative Planning lifted its stake in shares of DexCom by 4.9% during the 2nd quarter. Creative Planning now owns 48,693 shares of the medical device company’s stock worth $5,521,000 after acquiring an additional 2,271 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of DexCom during the 2nd quarter worth approximately $731,000. Finally, Ascent Group LLC lifted its stake in shares of DexCom by 17.0% during the 2nd quarter. Ascent Group LLC now owns 7,367 shares of the medical device company’s stock worth $835,000 after acquiring an additional 1,072 shares during the last quarter. Hedge funds and other institutional investors 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.