DexCom (NASDAQ:DXCM) Sees Strong Trading Volume Following Strong Earnings

DexCom, Inc. (NASDAQ:DXCM) saw strong trading volume on Friday following a stronger than expected earnings report. 2,504,333 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 3,846,715 shares.The stock last traded at $71.62 and had previously closed at $74.85.

The medical device company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $994.20 million for the quarter, compared to analysts’ expectations of $991.55 million.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BTIG Research decreased their target price on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Royal Bank of Canada decreased their price objective on shares of DexCom from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price on shares of DexCom in a report on Monday, August 26th. Finally, Robert W. Baird boosted their price target on DexCom from $80.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.88.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now owns 75,451 shares of the company’s stock, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jacob Steven Leach sold 746 shares of DexCom stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $51,585.90. Following the transaction, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,824 shares of company stock worth $126,390 in the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of DexCom in the second quarter worth $25,000. Sachetta LLC boosted its holdings in DexCom by 255.2% in the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock worth $27,000 after buying an additional 171 shares during the period. Crewe Advisors LLC purchased a new stake in DexCom in the 1st quarter worth $29,000. Riverview Trust Co raised its holdings in DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after acquiring an additional 232 shares during the period. Finally, DT Investment Partners LLC lifted its position in shares of DexCom by 492.2% in the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock valued at $43,000 after acquiring an additional 315 shares in the last quarter. Institutional investors own 97.75% of the company’s stock.

DexCom Stock Down 4.2 %

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The company has a 50-day moving average price of $70.13 and a 200 day moving average price of $98.71. The firm has a market capitalization of $28.52 billion, a PE ratio of 47.13, a P/E/G ratio of 2.16 and a beta of 1.18.

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.