Short Interest in DexCom, Inc. (NASDAQ:DXCM) Decreases By 8.2%

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 14,570,000 shares, a decline of 8.2% from the March 15th total of 15,870,000 shares. Based on an average trading volume of 3,090,000 shares, the short-interest ratio is presently 4.7 days.

Analyst Ratings Changes

DXCM has been the subject of a number of recent analyst reports. Royal Bank of Canada began coverage on DexCom in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $165.00 price objective for the company. UBS Group increased their price objective on shares of DexCom from $153.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Piper Sandler lifted their price objective on shares of DexCom from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Raymond James upped their target price on shares of DexCom from $147.00 to $151.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 23rd. Finally, StockNews.com raised shares of DexCom from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.40.

Insider Activity

In other DexCom news, EVP Michael Jon Brown sold 2,624 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $140.04, for a total transaction of $367,464.96. Following the completion of the sale, the executive vice president now owns 68,682 shares of the company’s stock, valued at $9,618,227.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DexCom news, EVP Michael Jon Brown sold 2,624 shares of DexCom stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $140.04, for a total transaction of $367,464.96. Following the transaction, the executive vice president now owns 68,682 shares of the company’s stock, valued at $9,618,227.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sadie Stern sold 20,321 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $133.61, for a total transaction of $2,715,088.81. Following the completion of the sale, the executive vice president now directly owns 80,441 shares of the company’s stock, valued at $10,747,722.01. The disclosure for this sale can be found here. Insiders sold a total of 187,385 shares of company stock valued at $25,256,617 in the last 90 days. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of DexCom by 31.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,999 shares of the medical device company’s stock worth $138,643,000 after buying an additional 65,516 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in DexCom by 3,596.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,109 shares of the medical device company’s stock worth $567,000 after purchasing an additional 1,079 shares during the last quarter. West Family Investments Inc. acquired a new position in shares of DexCom during the first quarter worth $209,000. Ergoteles LLC lifted its holdings in shares of DexCom by 60.6% during the 1st quarter. Ergoteles LLC now owns 1,681 shares of the medical device company’s stock valued at $860,000 after purchasing an additional 634 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of DexCom by 26.4% in the 1st quarter. Mackenzie Financial Corp now owns 29,516 shares of the medical device company’s stock worth $15,100,000 after purchasing an additional 6,160 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

DexCom Stock Up 1.5 %

NASDAQ:DXCM traded up $1.96 during trading hours on Tuesday, reaching $136.52. The company’s stock had a trading volume of 3,036,341 shares, compared to its average volume of 2,992,702. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84. The company has a market capitalization of $52.63 billion, a P/E ratio of 104.21, a price-to-earnings-growth ratio of 2.34 and a beta of 1.20. The stock has a 50 day moving average price of $129.06 and a two-hundred day moving average price of $116.16. DexCom has a 12 month low of $74.75 and a 12 month high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, February 8th. The medical device company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.43 by $0.07. DexCom had a return on equity of 28.31% and a net margin of 14.95%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities analysts predict that DexCom will post 1.76 EPS for the current fiscal year.

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.