Michael Jon Brown Sells 1,700 Shares of DexCom (NASDAQ:DXCM) Stock

DexCom, Inc. (NASDAQ:DXCM) EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction on Friday, May 15th. The shares were sold at an average price of $59.91, for a total transaction of $101,847.00. Following the completion of the transaction, the executive vice president owned 109,504 shares in the company, valued at approximately $6,560,384.64. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Jon Brown also recently made the following trade(s):

• On Wednesday, April 15th, Michael Jon Brown sold 1,700 shares of DexCom stock. The shares were sold at an average price of $63.04, for a total transaction of $107,168.00.
• On Monday, March 16th, Michael Jon Brown sold 1,700 shares of DexCom stock. The shares were sold at an average price of $64.85, for a total transaction of $110,245.00.

DexCom Stock Performance

NASDAQ:DXCM opened at $71.44 on Thursday. DexCom, Inc. has a 1-year low of $54.11 and a 1-year high of $89.98. The firm’s fifty day moving average price is $63.38 and its 200 day moving average price is $65.84. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that DexCom, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DXCM. Benchmark began coverage on DexCom in a report on Monday, May 11th. They issued a “buy” rating and a $77.00 price objective on the stock. Evercore upgraded shares of DexCom from an “in-line” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Tuesday, March 24th. Citigroup restated a “buy” rating and set a $79.00 target price (down from $84.00) on shares of DexCom in a research report on Monday, May 4th. Bank of America decreased their target price on shares of DexCom from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Piper Sandler restated an “overweight” rating on shares of DexCom in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, DexCom currently has an average rating of “Moderate Buy” and an average target price of $82.21.

Institutional Investors Weigh In On DexCom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in DexCom in the 4th quarter valued at about $483,356,000. AQR Capital Management LLC lifted its holdings in DexCom by 597.8% in the 4th quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after purchasing an additional 2,658,158 shares in the last quarter. Holocene Advisors LP purchased a new position in DexCom in the 3rd quarter valued at about $163,964,000. CIBC Private Wealth Group LLC lifted its holdings in DexCom by 374.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,907,801 shares of the medical device company’s stock valued at $195,666,000 after purchasing an additional 2,294,709 shares in the last quarter. Finally, Employees Provident Fund Board purchased a new position in DexCom in the 4th quarter valued at about $145,352,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.