DexCom (NASDAQ:DXCM) Trading Up 7.3% - What's Next?

DexCom, Inc. (NASDAQ:DXCM - Get Free Report) shot up 7.3% during mid-day trading on Friday . The company traded as high as $81.45 and last traded at $81.33. 3,145,862 shares traded hands during trading, a decline of 19% from the average session volume of 3,875,871 shares. The stock had previously closed at $75.82.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DXCM. Citigroup lifted their price objective on shares of DexCom from $85.00 to $91.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their price target on DexCom from $90.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Piper Sandler reissued an "overweight" rating and issued a $90.00 price objective on shares of DexCom in a report on Monday, August 26th. Stifel Nicolaus upped their target price on DexCom from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, Raymond James dropped their price target on shares of DexCom from $115.00 to $99.00 and set a "strong-buy" rating on the stock in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DexCom presently has an average rating of "Moderate Buy" and an average price target of $98.00.

DexCom Stock Performance

The company has a market cap of $31.26 billion, a PE ratio of 47.93, a PEG ratio of 2.46 and a beta of 1.12. 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's 50 day moving average is $74.53 and its 200-day moving average is $83.10.

Insider Transactions at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction on Wednesday, November 20th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On DexCom

Several hedge funds and other institutional investors have recently bought and sold shares of DXCM. Hennion & Walsh Asset Management Inc. increased its holdings in shares of DexCom by 135.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,830 shares of the medical device company's stock worth $434,000 after buying an additional 2,203 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in DexCom by 14.8% in the second quarter. Premier Path Wealth Partners LLC now owns 3,079 shares of the medical device company's stock valued at $349,000 after purchasing an additional 396 shares during the period. Everhart Financial Group Inc. lifted its stake in shares of DexCom by 7.8% in the 2nd quarter. Everhart Financial Group Inc. now owns 2,280 shares of the medical device company's stock valued at $259,000 after purchasing an additional 164 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of DexCom by 3.1% in the 2nd quarter. Retirement Systems of Alabama now owns 87,725 shares of the medical device company's stock valued at $9,946,000 after purchasing an additional 2,637 shares during the last quarter. Finally, Capital Insight Partners LLC grew its holdings in shares of DexCom by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 3,690 shares of the medical device company's stock worth $418,000 after purchasing an additional 90 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.