DexCom (NASDAQ:DXCM) Shares Gap Down to $75.25

DexCom, Inc. (NASDAQ:DXCM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $75.25, but opened at $72.01. DexCom shares last traded at $72.18, with a volume of 522,374 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of DexCom from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Wells Fargo & Company reduced their price target on DexCom from $145.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Raymond James lifted their price objective on shares of DexCom from $151.00 to $160.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. Barclays decreased their price objective on DexCom from $138.00 to $113.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, UBS Group cut their target price on DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.63.

DexCom Stock Down 5.6 %

The company’s fifty day simple moving average is $107.19 and its 200 day simple moving average is $121.03. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $28.25 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Analysts anticipate that DexCom, Inc. will post 1.69 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 652 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $119.24, for a total transaction of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares of the company’s stock, valued at $8,055,854.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Michael Jon Brown sold 652 shares of DexCom stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $119.24, for a total value of $77,744.48. Following the completion of the transaction, the executive vice president now owns 67,560 shares of the company’s stock, valued at approximately $8,055,854.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bridgette P. Heller sold 1,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $113.55, for a total transaction of $113,550.00. Following the sale, the director now directly owns 25,349 shares in the company, valued at $2,878,378.95. The disclosure for this sale can be found here. Insiders sold a total of 4,135 shares of company stock valued at $446,797 in the last three months. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXCM. Vanguard Group Inc. lifted its holdings in shares of DexCom by 0.3% during the first quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after purchasing an additional 136,282 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of 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 valued at $1,898,085,000 after purchasing an additional 2,695,296 shares during the last quarter. Sands Capital Management LLC lifted its position in DexCom by 10.2% during the fourth quarter. Sands Capital Management LLC now owns 15,058,806 shares of the medical device company’s stock valued at $1,868,647,000 after purchasing an additional 1,398,136 shares during the period. Capital World Investors boosted its holdings in DexCom by 130.7% in the fourth quarter. Capital World Investors now owns 9,278,685 shares of the medical device company’s stock worth $1,151,392,000 after purchasing an additional 5,256,092 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its position in DexCom by 164.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,900,308 shares of the medical device company’s stock worth $732,169,000 after purchasing an additional 3,672,471 shares during the period. 97.75% of the stock is owned by institutional investors.

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.