DexCom, Inc. (NASDAQ:DXCM) Sees Large Growth in Short Interest

DexCom, Inc. (NASDAQ:DXCM) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 8,740,000 shares, a growth of 12.3% from the May 15th total of 7,780,000 shares. Based on an average daily volume of 2,690,000 shares, the days-to-cover ratio is currently 3.2 days.

DexCom Price Performance

Shares of DexCom stock traded up $0.66 on Tuesday, hitting $117.19. 591,912 shares of the company traded hands, compared to its average volume of 2,882,958. The stock has a market capitalization of $46.60 billion, a P/E ratio of 75.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.22. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.53 and a current ratio of 2.90. DexCom has a 52 week low of $74.75 and a 52 week high of $142.00. The business has a 50-day simple moving average of $127.10 and a 200 day simple moving average of $125.99.

DexCom (NASDAQ:DXCM) last posted its earnings results on Thursday, April 25th. The medical device company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. DexCom had a net margin of 16.82% and a return on equity of 31.01%. The firm had revenue of $921.00 million during the quarter, compared to analyst estimates of $911.20 million. Research analysts expect that DexCom will post 1.78 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Sadie Stern sold 427 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the sale, the executive vice president now directly owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Sadie Stern sold 427 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $49,126.35. Following the sale, the executive vice president now owns 75,877 shares of the company’s stock, valued at approximately $8,729,648.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jereme M. Sylvain sold 745 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $115.05, for a total transaction of $85,712.25. Following the sale, the chief financial officer now directly owns 84,948 shares in the company, valued at approximately $9,773,267.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,837 shares of company stock valued at $8,377,125. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DXCM. Capital World Investors grew its holdings in shares of DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock valued at $1,151,392,000 after purchasing an additional 5,256,092 shares in the last quarter. Norges Bank purchased a new position in DexCom during the fourth quarter worth $540,178,000. Artisan Partners Limited Partnership boosted its stake in DexCom by 164.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after buying an additional 3,672,471 shares during the period. Capital Research Global Investors boosted its stake in DexCom by 21.4% during the fourth quarter. Capital Research Global Investors now owns 15,296,032 shares of the medical device company’s stock worth $1,898,085,000 after buying an additional 2,695,296 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in DexCom during the fourth quarter worth $231,773,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of DexCom in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price objective on the stock. Raymond James increased their price objective on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 26th. Citigroup increased their price objective on shares of DexCom from $148.00 to $161.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. UBS Group increased their price objective on shares of DexCom from $153.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Redburn Atlantic initiated coverage on shares of DexCom in a research note on Thursday, May 30th. They issued a “neutral” rating and a $130.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.94.

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.