DexCom (NASDAQ:DXCM) Sets New 12-Month Low – Here’s What Happened

DexCom, Inc. (NASDAQ:DXCM) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $61.74 and last traded at $62.24, with a volume of 1724552 shares changing hands. The stock had previously closed at $68.14.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Citigroup upped their price target on DexCom from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Baird R W upgraded DexCom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Canaccord Genuity Group boosted their target price on shares of DexCom from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Robert W. Baird raised shares of DexCom from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $86.00 to $104.00 in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.82.

DexCom Stock Down 3.2 %

The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The firm has a market cap of $23.38 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 2.30 and a beta of 1.28. The firm’s 50 day simple moving average is $80.14 and its two-hundred day simple moving average is $76.87.

DexCom (NASDAQ:DXCM) last released its earnings results on Thursday, February 13th. The medical device company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). DexCom had a return on equity of 30.14% and a net margin of 14.29%. On average, equities analysts forecast that DexCom, Inc. will post 2.03 EPS for the current year.

Insider Activity

In other news, CEO Kevin R. Sayer sold 33,359 shares of DexCom stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total transaction of $2,899,230.69. Following the sale, the chief executive officer now directly owns 319,037 shares of the company’s stock, valued at approximately $27,727,505.67. This trade represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares of the company’s stock, valued at $7,432,268.76. This represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,009 shares of company stock worth $8,044,178. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of DexCom by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 9,993,698 shares of the medical device company’s stock worth $775,256,000 after purchasing an additional 56,094 shares during the last quarter. Jennison Associates LLC grew its position in shares of DexCom by 10.3% in the 4th quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after buying an additional 710,858 shares during the last quarter. Norges Bank acquired a new stake in shares of DexCom in the fourth quarter valued at about $385,367,000. Northern Trust Corp raised its position in shares of DexCom by 22.2% during the fourth quarter. Northern Trust Corp now owns 4,146,249 shares of the medical device company’s stock worth $322,454,000 after acquiring an additional 753,857 shares during the last quarter. Finally, Groupama Asset Managment lifted 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 acquiring an additional 31,358 shares during the period. 97.75% of the stock is owned by 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.