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

DexCom, Inc. (NASDAQ:DXCM) was the target of a large 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 days-to-cover ratio is presently 2.3 days.

Insider Buying and Selling

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the company’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 value of $318,275.07. Following the completion of the transaction, the executive vice president now directly owns 71,192 shares in the company, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in DexCom by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock worth $664,056,000 after buying an additional 214,136 shares during the last quarter. Jennison Associates LLC increased its holdings in DexCom by 1,683.2% during the third quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after buying an additional 6,544,102 shares during the last quarter. Legal & General Group Plc increased its stake in shares of DexCom by 1.7% in the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock worth $339,352,000 after purchasing an additional 49,076 shares in the last quarter. Groupama Asset Managment increased its stake in shares of DexCom by 1.1% in the third quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock worth $1,912,000 after purchasing an additional 31,358 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in shares of DexCom by 44.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Stock Performance

Shares of DXCM stock opened at $84.38 on Friday. The firm has a 50-day moving average of $78.17 and a 200-day moving average of $77.98. The company has a market cap of $32.96 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.46 and a quick ratio of 2.12. DexCom has a one year low of $62.34 and a one year high of $142.00.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup upped their price target on shares of DexCom from $85.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective 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. Royal Bank of Canada decreased their price objective on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Leerink Partners decreased their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, DexCom has an average rating of “Moderate Buy” and an average target price of $99.29.

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.