Mark Foletta Sells 2,000 Shares of DexCom (NASDAQ:DXCM) Stock

DexCom, Inc. (NASDAQ:DXCM) Director Mark Foletta sold 2,000 shares of DexCom stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $80.00, for a total value of $160,000.00. Following the transaction, the director directly owned 50,852 shares in the company, valued at approximately $4,068,160. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DexCom Price Performance

Shares of DexCom stock opened at $82.66 on Thursday. DexCom, Inc. has a 52 week low of $54.11 and a 52 week high of $87.85. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47. The stock has a market cap of $31.19 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.41. The company’s 50-day moving average price is $73.99 and its two-hundred day moving average price is $69.53.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts anticipate that DexCom, Inc. will post 2.65 EPS for the current fiscal year.

Institutional Trading of DexCom

Several large investors have recently added to or reduced their stakes in DXCM. BOKF NA lifted its position in shares of DexCom by 175.7% in the fourth quarter. BOKF NA now owns 35,314 shares of the medical device company’s stock worth $2,344,000 after purchasing an additional 22,505 shares in the last quarter. Stephens Investment Management Group LLC grew its position in DexCom by 21.1% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,042,801 shares of the medical device company’s stock valued at $69,211,000 after purchasing an additional 181,701 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in DexCom in the 4th quarter valued at approximately $3,231,000. Goodman Advisory Group LLC acquired a new position in DexCom in the 4th quarter valued at approximately $1,293,000. Finally, Employees Retirement System of Texas purchased a new stake in DexCom in the 4th quarter worth approximately $37,871,000. 97.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DXCM. Deutsche Bank Aktiengesellschaft began coverage on DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price objective for the company. Stifel Nicolaus set a $95.00 target price on DexCom and gave the stock a “buy” rating in a research report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 target price (up from $88.00) on shares of DexCom in a report on Friday, July 31st. Bank of America decreased their price target on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Argus lifted their price target on DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

About DexCom

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.