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

Shares of DexCom, Inc. (NASDAQ:DXCM - Get Free Report) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 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. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The firm had revenue of $994.20 million during the quarter, compared to the consensus estimate of $991.55 million.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DXCM shares. StockNews.com raised shares of DexCom from a "hold" rating to a "buy" rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of DexCom from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday. Canaccord Genuity Group reiterated a "buy" rating and set a $145.00 price objective on shares of DexCom in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on DexCom from $75.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Baird R W downgraded DexCom from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $104.59.

Insider Activity at DexCom

In other DexCom news, EVP Michael Jon Brown sold 652 shares of the business's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the transaction, the executive vice president now owns 66,249 shares of the company's stock, valued at $4,607,617.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael Jon Brown sold 652 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total transaction of $45,346.60. Following the completion of the transaction, the executive vice president now directly owns 66,249 shares in the company, valued at $4,607,617.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jacob Steven Leach sold 746 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,824 shares of company stock worth $126,390. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in DexCom during the first quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of DexCom during the second quarter valued at approximately $25,000. Sachetta LLC raised its stake in shares of DexCom by 255.2% in the second quarter. Sachetta LLC now owns 238 shares of the medical device company's stock valued at $27,000 after purchasing an additional 171 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of DexCom by 41.7% in the first quarter. Sound Income Strategies LLC now owns 340 shares of the medical device company's stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. Finally, DT Investment Partners LLC lifted its position in DexCom by 492.2% in the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company's stock worth $43,000 after purchasing an additional 315 shares during the period. Institutional investors and hedge funds own 97.75% of the company's stock.

DexCom Price Performance

The stock has a market cap of $29.21 billion, a price-to-earnings ratio of 47.38, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The stock's 50 day simple moving average is $70.11 and its two-hundred day simple moving average is $98.24.

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.