Traders Buy High Volume of Put Options on DexCom (NASDAQ:DXCM)

DexCom, Inc. (NASDAQ:DXCM) saw some unusual options trading on Wednesday. Stock investors purchased 13,336 put options on the stock. This is an increase of approximately 1,377% compared to the typical daily volume of 903 put options.

A number of research firms have recently commented on DXCM. Canaccord Genuity increased their target price on DexCom from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Jaffray Companies restated a “buy” rating and issued a $230.00 price target on shares of DexCom in a research report on Monday, December 16th. Jefferies Financial Group upped their price target on shares of DexCom from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BidaskClub upgraded shares of DexCom from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Finally, Morgan Stanley increased their price objective on shares of DexCom from $202.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $209.80.

In other news, EVP Richard Doubleday sold 1,533 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $152.34, for a total transaction of $233,537.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin R. Sayer sold 10,000 shares of DexCom stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $157.50, for a total value of $1,575,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,136 shares of company stock worth $10,638,149 in the last three months. 1.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of DXCM. BKD Wealth Advisors LLC boosted its holdings in DexCom by 1.4% in the fourth quarter. BKD Wealth Advisors LLC now owns 4,206 shares of the medical device company’s stock worth $920,000 after acquiring an additional 57 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in DexCom by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,643 shares of the medical device company’s stock valued at $696,000 after purchasing an additional 67 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in DexCom by 33.3% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 280 shares of the medical device company’s stock valued at $41,000 after purchasing an additional 70 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in DexCom by 5.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 1,413 shares of the medical device company’s stock valued at $211,000 after purchasing an additional 73 shares during the last quarter. Finally, Atria Investments LLC increased its holdings in shares of DexCom by 4.3% in the second quarter. Atria Investments LLC now owns 3,325 shares of the medical device company’s stock valued at $511,000 after purchasing an additional 137 shares during the period. 98.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of DXCM stock traded up $1.92 during trading hours on Thursday, reaching $236.26. 1,881 shares of the stock were exchanged, compared to its average volume of 668,004. The firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of 788.80 and a beta of 0.76. DexCom has a 12-month low of $107.44 and a 12-month high of $242.14. The company’s 50-day moving average price is $221.58 and its 200-day moving average price is $177.08. The company has a current ratio of 5.63, a quick ratio of 5.26 and a debt-to-equity ratio of 1.41.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Wednesday, November 6th. The medical device company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.45. DexCom had a negative net margin of 12.68% and a positive return on equity of 16.16%. The company had revenue of $396.30 million for the quarter, compared to analyst estimates of $348.99 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 48.6% on a year-over-year basis. On average, sell-side analysts expect that DexCom will post 1.34 EPS for the current year.

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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM 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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