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Dexcom Inc. (NASDAQ:DXCM) Executive Vice President and Chief Financial Officer, Jereme M. Sylvain, recently sold 12,001 shares of the company’s common stock. The sale, executed on March 12, 2025, was made at an average price of $70.38 per share, amounting to a total transaction value of approximately $844,631. The transaction comes as the stock has experienced significant pressure, down 12% in the past week and 47% over the last year, according to InvestingPro data.
This transaction was part of a "sell to cover" arrangement, which is a standard procedure to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Following this sale, Sylvain retains direct ownership of 123,481 shares, which includes 83,328 unvested RSUs set to vest over the next few years. Despite trading at a relatively high P/E ratio of 48x, analysts maintain a bullish stance with price targets ranging from $82 to $120, suggesting potential upside from current levels.
In other recent news, DexCom reported fourth-quarter earnings that fell short of analyst expectations, with adjusted earnings per share at $0.45 compared to the anticipated $0.52. However, the company exceeded revenue forecasts, bringing in $1.11 billion, slightly above the $1.1 billion projection. For the full year 2024, DexCom’s revenue rose 11% to $4.03 billion, with U.S. revenue up 10% and international revenue increasing by 15%. Looking forward, DexCom has projected 2025 revenue of approximately $4.6 billion, which is below the consensus estimate of $4.61 billion.
Despite a warning letter from the FDA concerning manufacturing processes, BTIG analysts maintained a Buy rating with a $120 target for DexCom, indicating confidence in the company’s ability to address regulatory concerns. Bernstein analysts, meanwhile, raised their price target for DexCom to $100 from $89, citing a return to stability and improved sales forecasts. The company announced the appointment of Renée Galá to its Board of Directors, highlighting her extensive experience in financial and strategic leadership. These developments reflect DexCom’s ongoing efforts to navigate regulatory challenges and maintain growth momentum.
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