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

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a significant decrease in short interest in 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.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DXCM. Raymond James reduced their price objective on shares of DexCom from $115.00 to $99.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 25th. Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $86.00 to $104.00 in a research report on Thursday. StockNews.com cut shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Royal Bank of Canada reduced their price target on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Canaccord Genuity Group lifted their price target on shares of DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.29.

DexCom Stock Performance

Shares of DXCM stock opened at $84.38 on Friday. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The company has a 50-day simple moving average of $78.17 and a 200 day simple moving average of $77.98. DexCom has a 52 week low of $62.34 and a 52 week high of $142.00.

Insider Buying and Selling

In other news, EVP Sadie Stern sold 4,259 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 71,192 shares of the company’s stock, valued at approximately $5,320,178.16. This trade represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Institutional investors have recently bought and sold shares of the business. Blue Whale Capital LLP boosted its holdings in DexCom by 91.9% in the 3rd quarter. Blue Whale Capital LLP now owns 236,000 shares of the medical device company’s stock valued at $15,821,000 after purchasing an additional 113,000 shares during the period. Taylor Frigon Capital Management LLC lifted its holdings in shares of DexCom by 51.6% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock worth $2,182,000 after acquiring an additional 11,075 shares during the period. Brooktree Capital Management bought a new stake in shares of DexCom during the 3rd quarter worth approximately $683,000. National Pension Service lifted its holdings in shares of DexCom by 4.1% during the 3rd quarter. National Pension Service now owns 949,743 shares of the medical device company’s stock worth $63,671,000 after acquiring an additional 37,363 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in shares of DexCom during the 3rd quarter worth approximately $650,000. Institutional investors own 97.75% of the company’s stock.

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.