DexCom (NASDAQ:DXCM) Stock Price Up 3.7% - Here's What Happened

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DXCM shares. Oppenheimer dropped their price objective on shares of DexCom from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of DexCom from $75.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on DexCom from $90.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Citigroup upped their price objective on DexCom from $85.00 to $91.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein raised their target price on DexCom from $82.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.29.

DexCom Trading Down 0.5 %

The company's 50-day moving average is $78.17 and its 200-day moving average is $78.22. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 50.53, a P/E/G ratio of 2.00 and a beta of 1.12.

Insider Transactions at DexCom

In related news, EVP Sadie Stern sold 4,259 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in DexCom in the fourth quarter valued at about $25,000. Riverview Trust Co lifted its position in DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company's stock valued at $31,000 after purchasing an additional 232 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of DexCom in the 3rd quarter valued at about $57,000. Covestor Ltd grew its position in shares of DexCom by 53.7% during the 3rd quarter. Covestor Ltd now owns 959 shares of the medical device company's stock worth $64,000 after buying an additional 335 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of DexCom by 46.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 833 shares of the medical device company's stock worth $65,000 after buying an additional 265 shares during the last quarter. 97.75% of the stock is currently 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.