On November 14, 2023, Richard Alexander Collins, a director at DexCom, Inc. (NASDAQ: DXCM), sold 2,906 shares of the company’s stock in a transaction valued at approximately $171,599.30. This sale, executed at an average price of $59.05 per share, reduced Collins’ holdings to 35,088 shares, which are now worth around $2,071,946.40. The transaction represents a 7.65% decrease in his overall position in the company.
The sale was publicly disclosed through a filing with the Securities and Exchange Commission, underscoring the regulatory transparency surrounding such transactions.
DexCom’s stock experienced a slight increase on the following trading day, rising by 0.7% to reach $58.49. The company saw a trading volume of 6,047,131 shares, significantly higher than its average volume of 4,587,725 shares. DexCom’s financial metrics indicate a quick ratio of 1.35, a current ratio of 1.52, and a debt-to-equity ratio of 0.48. Over the past year, the stock has fluctuated between a low of $54.11 and a high of $93.25, with a 50-day simple moving average of $66.86 and a 200-day average of $77.17. The company boasts a market capitalization of $22.81 billion and a price-to-earnings ratio of 40.62.
Several institutional investors have recently modified their stakes in DexCom. For instance, Horizon Investments LLC increased its holdings by 2.2% during the first quarter, now owning 5,608 shares valued at $383,000. Similarly, Wedbush Securities Inc. raised its position by 1.2%, acquiring an additional 157 shares to reach a total of 13,168 shares valued at $899,000. Other notable changes include GAMMA Investing LLC, which increased its holdings by 2.5%, and Inspire Investing LLC, which raised its stake by 6.1%.
Institutional investors collectively own 97.75% of DexCom’s stock, reflecting strong confidence in the company’s potential.
Analysts have been active in setting price targets for DexCom. Stifel Nicolaus initiated coverage with a “buy” rating and a target of $85.00 on October 21, 2023. Wells Fargo & Company followed suit, setting a price objective of $93.00 with an “overweight” rating on October 31, 2023. Meanwhile, BTIG Research adjusted its target down from $109.00 to $85.00 while maintaining a “buy” rating.
Overall, three analysts have rated DexCom with a Strong Buy rating, while seventeen have issued a Buy rating, and six have given a Hold rating. The consensus target price stands at $87.62, indicating a generally positive outlook for the company.
Founded on the principles of innovation, DexCom, Inc. specializes in the design, development, and commercialization of continuous glucose monitoring (CGM) systems. Its products, which include the Dexcom G6 and Dexcom G7, serve individuals with diabetes and healthcare providers alike. The company’s technology aims to enhance diabetes management by providing real-time data and monitoring solutions.
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