Investors are more bearish of late looking at the uptick in short interest. The stock realized a rise in short interest from September 29, 2017 to October 13, 2017 of 6.17%. Short interest increased from 12,261,228 to 13,018,200 over that period. Days to cover increased from 3.0 to 5.0 and the percentage of shorted shares is 0.15% as of October 13.
Dexcom (NASDAQ:DXCM) has been the object of insider buying and selling activity recently. Steven R. Altman, Director reported the purchase of 25,000 shares of DXCM stock. The shares were bought on November 7th for an average price of $50.01. Altman now owns $2,925,685 of the stock per the Form 4 SEC filing. Steven R. Altman, Director disclosed the purchase of 10,000 shares. The shares were purchased at an average price of $49.61. The Director now owns $1,662,034 of the stock according to the SEC filing.
Richard Doubleday, EVP disclosed the sale of 1,635 shares of (DXCM). The shares were sold on October 23rd for an average price of $44.82. Doubleday now owns $919,482 of the stock per the Form 4 SEC filing.
These firms have modified their investment in DXCM. As of the end of the quarter Deerfield Management Co had acquired 1,172,070 shares growing its stake by 472.9%. The value of the investment in DXCM increased from $18,130,000 to $69,469,000 a change of 283.2% for the reporting period. As of quarter end First Mercantile Trust Co had bought a total of 756 shares growing its holdings by 21.9%. The value of the investment in Dexcom went from $252,000 to $206,000 a change of $46,000 quarter to quarter.
Raymond James & Associates reduced its holdings by shedding 5,082 shares a decrease of 6.6%. Raymond James & Associates currently owns 72,052 shares with a value of $3,525,000. The value of the position overall is down by 37.5%. Thornburg Investment Management Inc expanded its ownership by buying 74,413 shares an increase of 40.1% from 06/30/2017 to 09/30/2017. Thornburg Investment Management Inc claims 259,857 shares valued at $12,714,000. The total value of its holdings decreased 6.3%.
Equity analyst Morgan Stanley lowered the price target on November 3 changing the forecast from $72.00 to $52.00 with a rating of “Neutral”. On November 2 Northland Securities left the company rating at “Hold” targeting a price of $50.00.
Barclays PLC lowered the price target of the stock on November 2 changing the price objective from $60.00 to $57.00 and issued a “Equal Weight” recommendation. October 4 investment analysts at Wedbush made no change to the company rating of “Buy” with a current price target of $76.00.
On September 29 Leerink Swann held the stock rating at “Buy” projecting a price of $57.00.
The company is trading up by 1.63% since yesterday’s close of 51.55. The P/E ratio is currently N/A and market capitalization is 4.55B. As of the latest earnings report the EPS was $-0.57 with 86.90M shares outstanding.
Dexcom, Inc. (Dexcom), launched on May 13, 1999, is a medical device company. The Company is focused on the design, development and commercialization of continuous glucose monitoring (CGM) systems for ambulatory use by people with diabetes and for use by healthcare providers. The Business’s products consist of DexCom G4 PLATINUM and DexCom G5 Mobile. The Company is commercializing its fifth generation CGM system..