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DexCom Inc. (NASDAQ:DXCM), a $27.5 billion medical device company, saw its Executive Vice President and Chief Financial Officer Sylvain Jereme M recently sell shares, according to a filing with the Securities and Exchange Commission. The timing is notable as the stock has declined nearly 15% over the past week. On March 10, Mr. Sylvain sold a total of 6,000 shares in multiple transactions. The sales were executed at prices ranging from $73.217 to $74.7023 per share, amounting to a total transaction value of approximately $516,830. For comprehensive insider trading analysis and 15 additional key insights, check out InvestingPro.
Earlier, on March 8, Mr. Sylvain acquired a total of 58,704 shares of DexCom common stock through grants of restricted stock units, which are subject to vesting conditions. These acquisitions did not involve any cash transactions. Following these transactions, Mr. Sylvain holds 135,482 shares directly, including 83,328 unvested restricted stock units. Despite recent stock pressure, DexCom maintains a "Good" financial health score according to InvestingPro analysis, with strong cash flows and moderate debt levels, though it currently trades at a P/E ratio of 48.
In other recent news, DexCom reported its fourth-quarter earnings, revealing adjusted earnings per share of $0.45, which fell short of the analyst consensus estimate of $0.52. However, revenue for the quarter reached $1.11 billion, slightly surpassing the expected $1.1 billion and marking an 8% increase year-over-year. For the full year 2024, DexCom’s revenue grew by 11% to $4.03 billion, with U.S. revenue rising by 10% and international revenue by 15%. Looking ahead, the company has projected 2025 revenue of approximately $4.6 billion, which is slightly below the $4.61 billion consensus.
In other developments, BTIG analysts maintained their Buy rating for DexCom, with a price target of $120, despite the company receiving a warning letter from the FDA regarding manufacturing processes. DexCom has assured that the warning will not significantly impact its operations or financial projections. Meanwhile, Bernstein analysts have raised their price target for DexCom to $100, up from $89, citing a return to stability in the latter half of 2024. The company’s recent performance and guidance have been positively received, with efforts to address sales force productivity and market share loss noted.
Additionally, DexCom announced the appointment of Renée Galá to its Board of Directors, bringing significant financial and strategic expertise from her role as President and COO at Jazz Pharmaceuticals (NASDAQ:JAZZ). Her experience is expected to support DexCom’s growth and shareholder value initiatives.
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