DexCom (NASDAQ:DXCM) Sees Strong Trading Volume – Still a Buy?

DexCom, Inc. (NASDAQ:DXCM) saw unusually-strong trading volume on Friday . Approximately 1,644,516 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 2,209,038 shares.The stock last traded at $78.34 and had previously closed at $80.09.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DXCM shares. Raymond James dropped their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Royal Bank of Canada lowered their target price on DexCom from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Citigroup lifted 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. Finally, Canaccord Genuity Group increased their price target on DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

DexCom Price Performance

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 company’s fifty day moving average price is $76.93 and its 200 day moving average price is $79.08. The firm has a market capitalization of $30.37 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 4,259 shares of DexCom stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total value of $318,275.07. Following the sale, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Several large investors have recently made changes to their positions in the company. Versant Capital Management Inc bought a new position in DexCom in the 4th quarter worth approximately $25,000. Riverview Trust Co boosted 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 worth $31,000 after acquiring an additional 232 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of DexCom in the third quarter worth $57,000. Covestor Ltd increased its holdings in shares of DexCom by 53.7% during the third quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock valued at $64,000 after purchasing an additional 335 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of DexCom by 101.9% during the third quarter. Blue Trust Inc. now owns 1,779 shares of the medical device company’s stock valued at $119,000 after purchasing an additional 898 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

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.