DexCom, Inc. (DXCM) Shares Gap Down Following Insider Selling

DexCom, Inc. (NASDAQ:DXCM)’s share price gapped down prior to trading on Thursday after an insider sold shares in the company. 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 changing hands.

Specifically, EVP Andrew K. Balo sold 3,200 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $71.55, for a total transaction of $228,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven Robert Pacelli sold 1,450 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $78.19, for a total transaction of $113,375.50. The disclosure for this sale can be found here. Insiders have sold 63,063 shares of company stock valued at $4,556,819 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of DexCom in a report on Tuesday, April 4th. BTIG Research cut shares of DexCom from a “buy” rating to a “neutral” rating in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. set a $98.00 price target on shares of DexCom and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Canaccord Genuity decreased their price target on shares of DexCom from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $95.00 price target on shares of DexCom in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.44.

The stock’s 50 day moving average price is $71.68 and its 200-day moving average price is $74.65. The company’s market cap is $6.05 billion.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Tuesday, May 2nd. The medical device company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $142.30 million for the quarter, compared to analyst estimates of $143.94 million. On average, analysts anticipate that DexCom, Inc. will post ($0.71) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in DexCom during the first quarter valued at approximately $136,000. IFP Advisors Inc raised its position in 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 last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in DexCom during the first quarter valued at approximately $164,000. Mn Services Vermogensbeheer B.V. raised its position in 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 last quarter. Finally, Independent Portfolio Consultants Inc. raised its position in DexCom by 0.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,499 shares of the medical device company’s stock valued at $183,000 after buying an additional 9 shares during the last quarter.

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About DexCom

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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