DexCom, Inc. (NASDAQ:DXCM) Sees Significant Increase in Short Interest

DexCom, Inc. (NASDAQ:DXCM) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 9,360,000 shares, a growth of 21.9% from the October 15th total of 7,680,000 shares. Based on an average daily trading volume, of 4,310,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling at DexCom

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the firm’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 transaction, the chief operating officer now owns 264,915 shares of the company’s stock, valued at approximately $18,318,872.25. This trade represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sadie Stern sold 426 shares of DexCom 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 $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. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in shares of DexCom by 1,683.2% in the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in DexCom by 44.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after buying an additional 876,739 shares during the period. Two Sigma Advisers LP increased its stake in DexCom by 182.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after buying an additional 739,000 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in DexCom by 189.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after buying an additional 435,401 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of DexCom by 2,083.0% in the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after acquiring an additional 369,587 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.

DexCom Stock Performance

NASDAQ DXCM traded up $1.20 on Friday, hitting $75.88. 6,879,181 shares of the company traded hands, compared to its average volume of 4,837,927. The business’s 50 day moving average price is $70.03 and its 200-day moving average price is $91.42. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 45.44, a P/E/G ratio of 2.33 and a beta of 1.17.

Wall Street Analyst Weigh In

DXCM has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target 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. Leerink Partners dropped their target price on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Raymond James lowered their price objective on DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. Finally, BTIG Research reduced their target price on DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a report on Friday, July 26th. Seven investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.59.

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.