DexCom (NASDAQ:DXCM) Hits New 1-Year Low – Here’s What Happened

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

Analyst Ratings Changes

A number of brokerages have weighed in on DXCM. Robert W. Baird upgraded shares of DexCom from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $86.00 to $104.00 in a report on Thursday, January 16th. Canaccord Genuity Group raised their price objective on DexCom from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Redburn Atlantic raised DexCom from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $115.00 in a report on Monday, February 3rd. Baird R W upgraded DexCom from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. Finally, Cfra Research upgraded shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.82.

DexCom Stock Down 9.3 %

The company has a fifty day moving average of $81.24 and a 200 day moving average of $77.04. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $24.15 billion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28.

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

Insider Activity at DexCom

In other news, COO Jacob Steven Leach sold 2,634 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $86.91, for a total value of $228,920.94. Following the transaction, the chief operating officer now owns 268,644 shares of the company’s stock, valued at approximately $23,347,850.04. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $2,899,230.69. Following the completion of the sale, the chief executive officer now directly owns 319,037 shares in the company, valued at $27,727,505.67. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,009 shares of company stock worth $8,044,178. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

A number of hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc bought a new stake in shares of DexCom in the 4th quarter worth about $25,000. Private Trust Co. NA raised its position in DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 245 shares during the period. Optiver Holding B.V. bought a new stake in shares of DexCom in the 4th quarter valued at approximately $33,000. TD Private Client Wealth LLC boosted its holdings in shares of DexCom by 62.8% in the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after purchasing an additional 167 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of DexCom by 40.5% during the 4th quarter. Larson Financial Group LLC now owns 475 shares of the medical device company’s stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.