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

DexCom, Inc. (NASDAQ:DXCM) was the recipient of 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 presently 2.3 days.

DexCom Stock Performance

DXCM opened at $84.38 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. DexCom has a 52-week low of $62.34 and a 52-week high of $142.00. The firm has a market cap of $32.96 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The business’s fifty day moving average is $78.17 and its 200-day moving average is $77.98.

Wall Street Analysts Forecast Growth

DXCM has been the subject of several recent analyst reports. Leerink Partners cut their target price on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada reduced their target price on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and increased their price target for the company from $86.00 to $104.00 in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Sanford C. Bernstein upped their price objective on shares of DexCom from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.29.

Insider Activity at DexCom

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Several institutional investors and hedge funds have recently bought and sold shares of DXCM. Geode Capital Management LLC lifted its holdings in shares of DexCom by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock worth $664,056,000 after acquiring an additional 214,136 shares during the period. Jennison Associates LLC raised its position in DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after purchasing an additional 6,544,102 shares in the last quarter. Legal & General Group Plc lifted its stake in DexCom by 1.7% during the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock worth $339,352,000 after purchasing an additional 49,076 shares during the last quarter. Groupama Asset Managment boosted its holdings in shares of DexCom by 1.1% in the 3rd quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock valued at $1,912,000 after purchasing an additional 31,358 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of 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 valued at $190,532,000 after purchasing an additional 876,739 shares during the last quarter. Institutional investors own 97.75% of the company’s stock.

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.