Short Interest in DexCom, Inc. (NASDAQ:DXCM) Drops By 7.7%

DexCom, Inc. (NASDAQ:DXCM) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 8,420,000 shares, a drop of 7.7% from the November 15th total of 9,120,000 shares. Based on an average trading volume of 4,170,000 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup increased their price target on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group raised their target price on DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their target price on DexCom from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Royal Bank of Canada cut their price target on DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company lifted their price objective on shares of DexCom from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

DexCom Stock Up 1.8 %

DXCM stock traded up $1.39 during mid-day trading on Tuesday, reaching $77.80. 3,612,873 shares of the company traded hands, compared to its average volume of 3,883,869. The company has a quick ratio of 2.12, a current ratio of 2.46 and a debt-to-equity ratio of 1.23. The firm’s 50 day moving average price is $73.91 and its 200 day moving average price is $83.75. The stock has a market cap of $30.39 billion, a price-to-earnings ratio of 45.75, a P/E/G ratio of 2.46 and a beta of 1.12. DexCom has a fifty-two week low of $62.34 and a fifty-two week high of $142.00.

Insider Transactions at DexCom

In other news, EVP Sadie Stern sold 4,259 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $74.73, for a total transaction of $318,275.07. Following the completion of the sale, the executive vice president now directly owns 71,192 shares in the company, valued at $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DXCM. Jennison Associates LLC lifted its stake in DexCom by 1,683.2% during the 3rd quarter. Jennison Associates LLC now owns 6,932,899 shares of the medical device company’s stock valued at $464,782,000 after acquiring an additional 6,544,102 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of DexCom by 44.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,842,057 shares of the medical device company’s stock valued at $190,532,000 after purchasing an additional 876,739 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in DexCom by 182.7% during the third quarter. Two Sigma Advisers LP now owns 1,143,476 shares of the medical device company’s stock worth $76,659,000 after purchasing an additional 739,000 shares during the last quarter. Canada Pension Plan Investment Board grew its position in DexCom by 189.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 665,646 shares of the medical device company’s stock worth $75,471,000 after purchasing an additional 435,401 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in DexCom by 2,083.0% in the 3rd quarter. Intech Investment Management LLC now owns 387,330 shares of the medical device company’s stock valued at $25,967,000 after buying an additional 369,587 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

DexCom Company Profile

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.