DexCom, Inc. (NASDAQ:DXCM) Sees Significant Increase in Short Interest

DexCom, Inc. (NASDAQ:DXCM) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 9,360,000 shares, a growth of 21.9% from the October 15th total of 7,680,000 shares. Based on an average daily trading volume, of 4,310,000 shares, the days-to-cover ratio is presently 2.2 days.

DexCom Trading Up 1.6 %

DXCM traded up $1.20 on Friday, reaching $75.88. 6,879,181 shares of the company traded hands, compared to its average volume of 4,837,927. The company has a market cap of $29.64 billion, a P/E ratio of 45.44, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. DexCom has a one year low of $62.34 and a one year high of $142.00. The firm has a fifty day simple moving average of $70.03 and a two-hundred day simple moving average of $91.42.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at approximately $18,318,872.25. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sadie Stern sold 426 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total value of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently modified their holdings of DXCM. Empowered Funds LLC raised its position in DexCom by 30.7% during the 1st quarter. Empowered Funds LLC now owns 5,518 shares of the medical device company’s stock valued at $765,000 after purchasing an additional 1,295 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of DexCom by 35.4% in the first quarter. Avantax Advisory Services Inc. now owns 3,601 shares of the medical device company’s stock valued at $499,000 after acquiring an additional 942 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in DexCom by 4.3% in the first quarter. Kingsview Wealth Management LLC now owns 14,880 shares of the medical device company’s stock worth $2,064,000 after acquiring an additional 613 shares during the period. Orion Portfolio Solutions LLC lifted its stake in DexCom by 31.9% in the first quarter. Orion Portfolio Solutions LLC now owns 9,871 shares of the medical device company’s stock worth $1,369,000 after acquiring an additional 2,388 shares during the period. Finally, M&G Plc bought a new position in DexCom during the 1st quarter worth about $8,129,000. Institutional investors own 97.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on DXCM. UBS Group lowered their price objective on shares of DexCom from $163.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Baird R W cut DexCom from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Leerink Partners lowered their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their target price on DexCom from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average target price of $104.59.

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.