DexCom Unusual Options Activity For June 26
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on DexCom (NASDAQ:DXCM) with 69% of detected unusual options trades being bearish. Whales have been targeting a price range of $120 to $140 for DexCom over the last 3 months. Morgan Stanley downgraded its action to Equal-Weight with a price target of $131, while BTIG maintains a Buy rating with a price target of $150.
June 26, 2023 | 5:03 pm
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A whale has taken a bearish stance on DexCom (NASDAQ:DXCM) with 69% of detected unusual options trades being bearish. Whales have been targeting a price range of $120 to $140 for DexCom over the last 3 months. Morgan Stanley downgraded its action to Equal-Weight with a price target of $131, while BTIG maintains a Buy rating with a price target of $150.
The bearish stance taken by the whale, who represents a significant portion of the market, is likely to have a negative impact on DexCom's stock price in the short term. Additionally, the downgrade by Morgan Stanley may also contribute to downward pressure on the stock price. However, BTIG's maintained Buy rating with a higher price target may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100