Bridgette P. Heller, a director at DexCom Inc. (NASDAQ:DXCM), a healthcare company with a market capitalization of $30.4 billion, sold 1,000 shares of the company's common stock on December 16, 2024. The shares were sold at an average price of $76.87 each, resulting in a total transaction value of $76,870. This sale was conducted under a pre-established 10b5-1 trading plan, which Heller adopted earlier in the year on February 25, 2024. According to InvestingPro, the stock is currently trading 45% below its 52-week high of $142, while maintaining a strong financial health score of "GREAT." Following this transaction, Heller retains ownership of 23,349 shares, which includes 2,618 unvested restricted stock units. These units are set to vest either on the one-year anniversary of their grant date or at DexCom Inc.'s 2025 Annual Meeting of Stockholders, whichever comes first. Notably, InvestingPro analysis reveals that management has been aggressively buying back shares, with 11 additional key insights available to subscribers.
In other recent news, DexCom, a prominent player in the continuous glucose monitoring sector, has been making significant strides. The company reported a 3% organic revenue growth in its third quarter of 2024, reaching a total of $994 million. This increase was bolstered by a notable 12% surge in international revenue, despite a 2% decrease in U.S. revenue. DexCom continues to maintain its 2024 revenue guidance of $4.00 to $4.05 billion, reflecting an organic growth of 11% to 13%.
DexCom's recent developments include the launch of Stelo for adults with pre-diabetes or Type 2 diabetes, which has seen strong early adoption. Additionally, a 15-day G7 CGM system has been submitted for FDA review, with market release expected in the near future. Despite a slight decline in profit margins, DexCom has its eyes set on long-term growth and margin expansion, targeting a revenue of $4.6 billion by 2025.
BofA Securities maintained its Buy rating on DexCom, highlighting the company’s potential for accelerated revenue growth and introduction of new products. The firm perceives DexCom as a prime candidate for investment, given its current market position and the potential for valuation expansion. These recent developments underscore the unique investment opportunity that DexCom presents, with an anticipated $4.6 billion revenue target set for 2025, as per the analyst's comments.
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