DexCom (NASDAQ:DXCM) Shares Gap Up – Here’s What Happened

DexCom, Inc. (NASDAQ:DXCM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $77.76, but opened at $82.00. DexCom shares last traded at $78.42, with a volume of 540,973 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of DexCom from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Canaccord Genuity Group increased their price target on DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Oppenheimer decreased their price objective on DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada reduced their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Seven 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

DexCom Price Performance

The stock’s 50 day moving average is $77.33 and its two-hundred day moving average is $78.35. The stock has a market capitalization of $30.92 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 2.36 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.

Insider Buying and Selling

In related news, EVP Sadie Stern sold 4,259 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the transaction, the executive vice president now directly owns 71,192 shares in the company, valued at approximately $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc acquired a new stake in shares of DexCom in the fourth quarter valued at approximately $25,000. Riverview Trust Co raised its stake in DexCom by 100.4% during the third quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock worth $31,000 after purchasing an additional 232 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of DexCom in the 3rd quarter valued at approximately $57,000. Covestor Ltd increased its holdings in shares of DexCom by 53.7% during the 3rd quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock worth $64,000 after buying an additional 335 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of DexCom by 101.9% during the 3rd quarter. Blue Trust Inc. now owns 1,779 shares of the medical device company’s stock valued at $119,000 after buying an additional 898 shares during the period. 97.75% of the stock is owned by hedge funds and other institutional investors.

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.