DexCom, Inc. (DXCM) Shares Gap Down After Insider Selling
DexCom, Inc. (NASDAQ:DXCM) gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $73.58, but opened at $71.79. DexCom shares last traded at $70.04, with a volume of 2,679,070 shares.
Specifically, CEO Kevin R. Sayer sold 10,000 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $75.63, for a total value of $756,300.00. Following the completion of the transaction, the chief executive officer now directly owns 353,680 shares in the company, valued at approximately $26,748,818.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew K. Balo sold 3,200 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $71.93, for a total value of $230,176.00. The disclosure for this sale can be found here. Insiders have sold a total of 63,063 shares of company stock valued at $4,556,819 over the last 90 days. Insiders own 1.70% of the company’s stock.
Several research analysts have weighed in on DXCM shares. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of DexCom in a report on Wednesday, March 22nd. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 price target on shares of DexCom in a report on Wednesday, June 7th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $78.00 price target on shares of DexCom in a report on Monday, May 22nd. BidaskClub upgraded DexCom from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, BTIG Research downgraded DexCom from a “buy” rating to a “neutral” rating in a report on Wednesday, May 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. DexCom currently has a consensus rating of “Buy” and a consensus target price of $90.00.
The firm’s market capitalization is $6.19 billion. The firm has a 50 day moving average price of $71.68 and a 200 day moving average price of $74.65.
DexCom (NASDAQ:DXCM) last released its earnings results on Tuesday, May 2nd. The medical device company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.06. DexCom had a negative net margin of 14.70% and a negative return on equity of 32.94%. The company had revenue of $142.30 million during the quarter, compared to the consensus estimate of $143.94 million. Equities analysts anticipate that DexCom, Inc. will post ($0.71) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in DexCom during the first quarter worth about $136,000. IFP Advisors Inc raised its position in shares of DexCom by 9.3% in the first quarter. IFP Advisors Inc now owns 1,863 shares of the medical device company’s stock valued at $158,000 after buying an additional 159 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of DexCom during the first quarter valued at approximately $164,000. Mn Services Vermogensbeheer B.V. raised its position in shares of DexCom by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,254 shares of the medical device company’s stock valued at $179,000 after buying an additional 83 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of DexCom by 475.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,300 shares of the medical device company’s stock valued at $195,000 after buying an additional 1,900 shares during the period.
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DexCom Company Profile
Dexcom, Inc (Dexcom) is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Company’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile.
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