DexCom (NASDAQ:DXCM) Trading 3.7% Higher – Still a Buy?

DexCom, Inc. (NASDAQ:DXCM) shares traded up 3.7% during trading on Thursday . The stock traded as high as $84.46 and last traded at $83.35. 480,367 shares traded hands during trading, a decline of 85% from the average session volume of 3,277,229 shares. The stock had previously closed at $80.40.

Analysts Set New Price Targets

Several brokerages have issued reports on DXCM. Canaccord Genuity Group increased their target price on DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Sanford C. Bernstein raised their price objective on DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Citigroup raised their target price on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Robert W. Baird upgraded DexCom from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $104.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.29.

DexCom Trading Up 5.3 %

The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 2.00 and a beta of 1.12. The company has a fifty day moving average of $77.57 and a 200-day moving average of $78.37.

Insider Buying and Selling

In related news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of DexCom by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock worth $664,056,000 after purchasing an additional 214,136 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of DexCom by 1,683.2% during the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock worth $464,782,000 after purchasing an additional 6,544,102 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of DexCom by 1.7% during the 2nd 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 during the last quarter. Groupama Asset Managment boosted its holdings in shares of DexCom by 1.1% during the 3rd 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 during the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of DexCom by 44.6% during the 3rd 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 during the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.