DexCom, Inc. (NASDAQ:DXCM – Get Rating) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 11,900,000 shares, a decrease of 13.1% from the October 15th total of 13,690,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is presently 4.3 days.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. Raymond James raised their price target on shares of DexCom from $101.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Cowen raised their price target on shares of DexCom from $85.00 to $114.00 in a report on Friday, October 28th. Jefferies Financial Group assumed coverage on shares of DexCom in a report on Wednesday, October 12th. They set a “buy” rating and a $125.00 price target on the stock. Oppenheimer lowered their target price on shares of DexCom from $131.00 to $105.00 in a research note on Friday, July 29th. Finally, Barclays assumed coverage on shares of DexCom in a research note on Monday, October 17th. They issued an “equal weight” rating and a $103.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.24.
Insiders Place Their Bets
In other DexCom news, Director Steven Robert Pacelli sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $84.21, for a total value of $84,210.00. Following the completion of the sale, the director now owns 137,700 shares in the company, valued at approximately $11,595,717. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.41% of the company’s stock.
Institutional Trading of DexCom
Several institutional investors have recently made changes to their positions in DXCM. CVA Family Office LLC boosted its position in shares of DexCom by 100.0% during the 2nd quarter. CVA Family Office LLC now owns 330 shares of the medical device company’s stock valued at $25,000 after acquiring an additional 165 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of DexCom during the 2nd quarter valued at about $26,000. Sound Income Strategies LLC boosted its position in shares of DexCom by 300.0% during the 3rd quarter. Sound Income Strategies LLC now owns 320 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 240 shares in the last quarter. Bivin & Associates Inc. lifted its holdings in DexCom by 300.0% during the 2nd quarter. Bivin & Associates Inc. now owns 360 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 270 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its holdings in DexCom by 860.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 365 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 327 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors and hedge funds.
DexCom Price Performance
Shares of DexCom stock traded down $2.25 during trading on Thursday, hitting $112.64. 2,162,450 shares of the company’s stock traded hands, compared to its average volume of 3,231,683. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.77 and a quick ratio of 3.43. The firm’s fifty day moving average price is $99.30 and its 200 day moving average price is $87.36. DexCom has a twelve month low of $66.89 and a twelve month high of $164.86. The company has a market cap of $43.51 billion, a PE ratio of 207.64, a PEG ratio of 4.43 and a beta of 1.21.
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, an integrated CGM system for diabetes management; Dexcom Real-Time API, which enables invited third-party developers to integrate real-time CGM data into their digital health applications and devices; Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions; and Dexcom Share, a remote monitoring system.