DexCom (DXCM) Trading Down 12.2% Following Insider Selling
DexCom, Inc. (NASDAQ:DXCM)’s share price traded down 12.2% during trading on Monday following insider selling activity. The stock traded as low as $120.19 and last traded at $121.31. 2,412,026 shares were traded during trading, an increase of 104% from the average session volume of 1,180,698 shares. The stock had previously closed at $138.15.
Specifically, CEO Kevin R. Sayer sold 11,161 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $124.76, for a total value of $1,392,446.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Patrick Michael Murphy sold 2,372 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $143.69, for a total value of $340,832.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,700 shares of company stock worth $24,419,880. 1.80% of the stock is owned by company insiders.
Several research firms have issued reports on DXCM. BidaskClub upgraded DexCom from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Northland Securities upgraded DexCom from an “under perform” rating to a “market perform” rating in a research report on Wednesday, September 12th. Jefferies Financial Group increased their target price on DexCom to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Stephens increased their target price on DexCom from $170.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 7th. Finally, Piper Jaffray Companies increased their target price on DexCom to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 7th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. DexCom currently has a consensus rating of “Buy” and a consensus price target of $132.50.
DexCom (NASDAQ:DXCM) last issued its quarterly earnings data on Tuesday, November 6th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.29. DexCom had a negative return on equity of 2.89% and a net margin of 4.72%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $242.72 million. The company’s revenue for the quarter was up 44.5% compared to the same quarter last year. On average, analysts expect that DexCom, Inc. will post -0.19 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. JS Capital Management LLC purchased a new stake in shares of DexCom in the third quarter worth $100,000. Stratos Wealth Partners LTD. purchased a new stake in shares of DexCom in the third quarter worth $124,000. IBM Retirement Fund purchased a new stake in shares of DexCom in the third quarter worth $203,000. HPM Partners LLC purchased a new stake in shares of DexCom in the third quarter worth $203,000. Finally, Brighton Jones LLC purchased a new stake in shares of DexCom in the third quarter worth $204,000.
About DexCom (NASDAQ:DXCM)
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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G5 mobile continuous glucose monitoring system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.
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