DexCom (DXCM) Stock Price Up 8.8% on Strong Earnings

Shares of DexCom, Inc. (NASDAQ:DXCM) rose 8.8% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $145.00 and last traded at $144.65. Approximately 2,870,556 shares changed hands during trading, an increase of 148% from the average daily volume of 1,159,556 shares. The stock had previously closed at $132.92.

The medical device company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.29. The firm had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $242.72 million. DexCom had a net margin of 4.72% and a negative return on equity of 3.08%. The company’s revenue was up 44.5% on a year-over-year basis.

A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of DexCom to $148.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens upped their target price on shares of DexCom from $170.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Jaffray Companies upped their target price on shares of DexCom to $157.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer set a $150.00 target price on shares of DexCom and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James upped their target price on shares of DexCom from $125.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, October 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. DexCom currently has an average rating of “Buy” and an average target price of $132.50.

In other DexCom news, EVP Andrew K. Balo sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $124.25, for a total transaction of $621,250.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steven Robert Pacelli sold 3,114 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $128.85, for a total transaction of $401,238.90. The disclosure for this sale can be found here. Insiders have sold 157,892 shares of company stock worth $21,864,030 over the last quarter. Insiders own 1.80% of the company’s stock.

Large investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new stake in DexCom during the third quarter worth about $124,000. IBM Retirement Fund purchased a new stake in DexCom during the third quarter worth about $203,000. Brighton Jones LLC purchased a new stake in DexCom during the third quarter worth about $204,000. Strs Ohio purchased a new stake in DexCom during the third quarter worth about $213,000. Finally, 1ST Source Bank purchased a new stake in DexCom during the third quarter worth about $230,000.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.62 and a current ratio of 4.89. The company has a market capitalization of $11.74 billion, a PE ratio of -255.88 and a beta of 0.60.

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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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