DexCom (NASDAQ:DXCM) Sees Strong Trading Volume After Strong Earnings

DexCom, Inc. (NASDAQ:DXCM) saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 2,504,333 shares changed hands during trading, a decline of 35% from the previous session’s volume of 3,846,715 shares.The stock last traded at $71.62 and had previously closed at $74.85.

The medical device company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The firm had revenue of $994.20 million during the quarter, compared to analysts’ expectations of $991.55 million. DexCom had a return on equity of 31.41% and a net margin of 16.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DXCM. Raymond James lowered their price objective on DexCom from $115.00 to $99.00 and set a “strong-buy” rating for the company in a research report on Friday. Leerink Partners lowered their price target on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a report on Friday. Baird R W lowered shares of DexCom from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. Finally, BTIG Research cut their price target on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and an average price target of $104.59.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 426 shares of DexCom stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the completion of the sale, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Jon Brown sold 652 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares in the company, valued at approximately $4,607,617.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,824 shares of company stock worth $126,390 in the last 90 days. 0.30% of the stock is owned by company insiders.

Institutional Trading of DexCom

A number of hedge funds have recently made changes to their positions in DXCM. Taylor Frigon Capital Management LLC boosted its stake in DexCom by 51.6% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 32,554 shares of the medical device company’s stock valued at $2,182,000 after acquiring an additional 11,075 shares during the last quarter. Waters Parkerson & CO. LLC grew its stake in DexCom by 4.2% in the second quarter. Waters Parkerson & CO. LLC now owns 272,641 shares of the medical device company’s stock worth $30,912,000 after purchasing an additional 10,892 shares in the last quarter. Legal & General Group Plc grew its stake in 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. Factory Mutual Insurance Co. increased its holdings in DexCom by 136.1% in the third quarter. Factory Mutual Insurance Co. now owns 404,230 shares of the medical device company’s stock valued at $27,100,000 after buying an additional 233,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in DexCom by 533.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 36,510 shares of the medical device company’s stock valued at $4,140,000 after buying an additional 30,743 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Trading Down 1.9 %

The company has a market cap of $29.21 billion, a P/E ratio of 47.38, a P/E/G ratio of 2.16 and a beta of 1.18. The business has a fifty day simple moving average of $70.11 and a 200 day simple moving average of $98.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.48 and a current ratio of 2.82.

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.