DexCom (NASDAQ:DXCM) Sees Unusually-High Trading Volume – Should You Buy?

DexCom, Inc. (NASDAQ:DXCM) saw unusually-high trading volume on Friday . Approximately 1,644,516 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 2,209,038 shares.The stock last traded at $78.34 and had previously closed at $80.09.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DXCM shares. Leerink Partners dropped their price objective on DexCom from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. StockNews.com lowered shares of DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Canaccord Genuity Group raised their target price on shares of DexCom from $89.00 to $99.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada reduced their price target on shares of DexCom from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Oppenheimer dropped their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.00.

DexCom Trading Down 3.1 %

The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 46.49, a P/E/G ratio of 2.46 and a beta of 1.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.12 and a current ratio of 2.46. The business has a fifty day moving average price of $76.78 and a 200 day moving average price of $79.52.

Insider Activity

In other DexCom news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $74.73, for a total value of $318,275.07. Following the completion of the transaction, the executive vice president now owns 71,192 shares in the company, valued at $5,320,178.16. This represents a 5.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On DexCom

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in DexCom in the 4th quarter valued at about $25,000. Riverview Trust Co grew its stake in DexCom by 100.4% during the 3rd quarter. Riverview Trust Co now owns 463 shares of the medical device company’s stock valued at $31,000 after purchasing an additional 232 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in DexCom during the 3rd quarter worth approximately $57,000. Covestor Ltd boosted its stake in shares of DexCom by 53.7% during the 3rd quarter. Covestor Ltd now owns 959 shares of the medical device company’s stock valued at $64,000 after buying an additional 335 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of DexCom by 101.9% during the third quarter. Blue Trust Inc. now owns 1,779 shares of the medical device company’s stock worth $119,000 after buying an additional 898 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

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.