DexCom (NASDAQ:DXCM) Shares Gap Up - Should You Buy?

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $77.76, but opened at $82.00. DexCom shares last traded at $78.42, with a volume of 540,973 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DXCM. Royal Bank of Canada lowered their target price on DexCom from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Canaccord Genuity Group lifted their price objective on DexCom from $89.00 to $99.00 and gave the company a "buy" rating in a research report on Monday, December 9th. StockNews.com downgraded DexCom from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. Sanford C. Bernstein boosted their price target on DexCom from $82.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Citigroup upped their target price on DexCom from $85.00 to $91.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.00.

DexCom Stock Up 2.7 %

The stock's fifty day moving average is $76.93 and its two-hundred day moving average is $78.84. 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 firm has a market cap of $31.19 billion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.

Insider Buying and Selling at DexCom

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the transaction, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. The trade was a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently modified their holdings of DXCM. Jennison Associates LLC boosted its position 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 valued at $464,782,000 after acquiring an additional 6,544,102 shares during the last quarter. Westfield Capital Management Co. LP raised its position in 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 acquiring an additional 876,739 shares in the last quarter. Two Sigma Advisers LP raised its position in DexCom by 182.7% in the third quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company's stock worth $76,659,000 after acquiring an additional 739,000 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of DexCom by 189.1% in the second quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company's stock valued at $75,471,000 after buying an additional 435,401 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of DexCom by 2,083.0% during the third quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company's stock valued at $25,967,000 after acquiring an additional 369,587 shares during the last quarter. 97.75% of the stock is owned by hedge funds and other 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.