DexCom (NASDAQ:DXCM) Shares Gap Up – Time to Buy?

DexCom, Inc. (NASDAQ:DXCM) shares gapped up prior to trading on Monday . The stock had previously closed at $77.76, but opened at $82.00. DexCom shares last traded at $78.42, with a volume of 540,973 shares.

Analysts Set New Price Targets

DXCM has been the topic of several recent research reports. Citigroup upped their price target on DexCom from $85.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group increased their price target on shares of DexCom from $89.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Leerink Partners dropped their price objective on shares of DexCom from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wells Fargo & Company raised their target price 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. Finally, Sanford C. Bernstein boosted their price target on DexCom from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.00.

DexCom Stock Down 2.0 %

The company’s 50 day simple moving average is $76.93 and its 200-day simple moving average is $78.84. The company has a current ratio of 2.46, a quick ratio of 2.12 and a debt-to-equity ratio of 1.23. The firm has a market cap of $29.76 billion, a P/E ratio of 45.62, a PEG ratio of 2.36 and a beta of 1.12.

Insider Activity

In related news, EVP Sadie Stern sold 4,259 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was 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 owns 71,192 shares in the company, valued at approximately $5,320,178.16. This represents a 5.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DexCom

Large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of DexCom by 4.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 3,928 shares of the medical device company’s stock worth $445,000 after buying an additional 162 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in DexCom by 1.0% in the third quarter. Crossmark Global Holdings Inc. now owns 18,778 shares of the medical device company’s stock worth $1,259,000 after acquiring an additional 182 shares during the period. Perennial Investment Advisors LLC boosted its stake in shares of DexCom by 7.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 3,156 shares of the medical device company’s stock worth $358,000 after acquiring an additional 217 shares during the last quarter. Riverview Trust Co grew its position in shares of 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 acquiring an additional 232 shares during the period. Finally, Koa Wealth Management LLC increased its stake in shares of DexCom by 7.7% in the 3rd quarter. Koa Wealth Management LLC now owns 3,770 shares of the medical device company’s stock worth $253,000 after purchasing an additional 270 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors.

About DexCom

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.