Investors Buy Shares of DexCom (DXCM) on Weakness After Insider Selling
Investors purchased shares of DexCom, Inc. (NASDAQ:DXCM) on weakness during trading hours on Thursday after an insider sold shares in the company. $90.05 million flowed into the stock on the tick-up and $29.87 million flowed out of the stock on the tick-down, for a money net flow of $60.18 million into the stock. Of all stocks tracked, DexCom had the 16th highest net in-flow for the day. DexCom traded down ($0.61) for the day and closed at $146.85Specifically, SVP Patrick Michael Murphy sold 400 shares of the firm’s stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $138.75, for a total transaction of $55,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin R. Sayer sold 32,566 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $142.83, for a total transaction of $4,651,401.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,181 shares of company stock worth $14,473,795. 1.80% of the stock is currently owned by company insiders.
DXCM has been the topic of several recent research reports. BidaskClub lowered shares of DexCom from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Oppenheimer reiterated a “buy” rating on shares of DexCom in a research note on Wednesday, November 21st. UBS Group initiated coverage on shares of DexCom in a research note on Tuesday, November 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Morgan Stanley lowered their price target on shares of DexCom from $150.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Piper Jaffray Companies lifted their price target on shares of DexCom to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 9th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. DexCom currently has a consensus rating of “Buy” and a consensus price target of $149.53.
The company has a market capitalization of $12.94 billion, a price-to-earnings ratio of 489.50 and a beta of 0.78. The company has a current ratio of 7.64, a quick ratio of 7.32 and a debt-to-equity ratio of 1.52.
Several hedge funds have recently made changes to their positions in DXCM. Laurel Wealth Advisors LLC bought a new stake in shares of DexCom during the 4th quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of DexCom during the 4th quarter worth about $33,000. First Hawaiian Bank boosted its holdings in shares of DexCom by 75.6% during the 4th quarter. First Hawaiian Bank now owns 395 shares of the medical device company’s stock worth $47,000 after buying an additional 170 shares during the period. Bremer Trust National Association bought a new stake in shares of DexCom during the 4th quarter worth about $49,000. Finally, LS Investment Advisors LLC bought a new stake in shares of DexCom during the 4th quarter worth about $67,000. 99.11% of the stock is owned by institutional investors and hedge funds.
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DexCom Company Profile (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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