Insider Selling: DexCom, Inc. (NASDAQ:DXCM) CEO Sells $2,899,230.69 in Stock

DexCom, Inc. (NASDAQ:DXCM) CEO Kevin R. Sayer sold 33,359 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $86.91, for a total value of $2,899,230.69. Following the sale, the chief executive officer now owns 319,037 shares in the company, valued at $27,727,505.67. This represents a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

DexCom Price Performance

Shares of DXCM traded up $1.19 during midday trading on Thursday, reaching $87.62. The stock had a trading volume of 2,123,429 shares, compared to its average volume of 3,649,357. The company has a market capitalization of $34.22 billion, a price-to-earnings ratio of 52.47, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. DexCom, Inc. has a 12-month low of $62.34 and a 12-month high of $142.00. The company’s 50-day moving average is $80.22 and its 200 day moving average is $76.59.

Wall Street Analyst Weigh In

DXCM has been the topic of several recent research reports. StockNews.com downgraded DexCom from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. JPMorgan Chase & Co. increased their target price on shares of DexCom from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Citigroup boosted their price target on shares of DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein increased their price objective on shares of DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Oppenheimer dropped their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, DexCom currently has an average rating of “Moderate Buy” and a consensus target price of $99.29.

Institutional Investors Weigh In On DexCom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DXCM. Geode Capital Management LLC increased its holdings in DexCom by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,937,604 shares of the medical device company’s stock valued at $664,056,000 after purchasing an additional 214,136 shares during the period. Jennison Associates LLC increased its stake in shares of DexCom by 10.3% during the fourth quarter. Jennison Associates LLC now owns 7,643,757 shares of the medical device company’s stock valued at $594,455,000 after buying an additional 710,858 shares during the period. Groupama Asset Managment raised its holdings in shares of DexCom by 1.1% during the third quarter. Groupama Asset Managment now owns 2,851,556 shares of the medical device company’s stock valued at $1,912,000 after acquiring an additional 31,358 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in DexCom by 44.6% in the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock worth $190,532,000 after acquiring an additional 876,739 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in DexCom by 11.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,734,155 shares of the medical device company’s stock valued at $183,298,000 after acquiring an additional 288,381 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

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.