DexCom, Inc. Forecasted to Post Q3 2024 Earnings of $0.44 Per Share (NASDAQ:DXCM)

DexCom, Inc. (NASDAQ:DXCM) – Leerink Partnrs lowered their Q3 2024 earnings per share estimates for DexCom in a research report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Kratky now forecasts that the medical device company will post earnings per share of $0.44 for the quarter, down from their prior estimate of $0.45. The consensus estimate for DexCom’s current full-year earnings is $1.69 per share. Leerink Partnrs also issued estimates for DexCom’s Q4 2024 earnings at $0.47 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.03 EPS, FY2026 earnings at $2.49 EPS, FY2027 earnings at $2.90 EPS and FY2028 earnings at $3.38 EPS.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, July 25th. The medical device company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.04 billion. DexCom had a net margin of 16.95% and a return on equity of 31.41%. DexCom’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 price target on shares of DexCom in a research report on Monday, August 26th. Stifel Nicolaus lifted their target price on DexCom from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com lowered DexCom from a “buy” rating to a “hold” rating in a research report on Saturday, October 12th. Morgan Stanley cut their price objective on shares of DexCom from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Finally, BTIG Research reduced their target price on shares of DexCom from $156.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, DexCom has an average rating of “Moderate Buy” and a consensus price target of $110.73.

DexCom Stock Up 4.2 %

Shares of NASDAQ DXCM opened at $69.90 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.82 and a quick ratio of 2.48. The company has a 50-day moving average price of $69.95 and a 200-day moving average price of $101.15. The stock has a market capitalization of $27.80 billion, a P/E ratio of 45.10, a P/E/G ratio of 2.16 and a beta of 1.18. DexCom has a 1 year low of $62.34 and a 1 year high of $142.00.

Institutional Trading of DexCom

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New Hampshire purchased a new position in DexCom in the 1st quarter valued at approximately $1,508,000. Waters Parkerson & CO. LLC boosted its holdings in shares of DexCom by 4.2% in the second quarter. Waters Parkerson & CO. LLC now owns 272,641 shares of the medical device company’s stock worth $30,912,000 after acquiring an additional 10,892 shares during the period. Legal & General Group Plc grew its position in shares of DexCom by 1.7% in the second quarter. Legal & General Group Plc now owns 2,993,049 shares of the medical device company’s stock valued at $339,352,000 after purchasing an additional 49,076 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of DexCom by 533.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 36,510 shares of the medical device company’s stock valued at $4,140,000 after purchasing an additional 30,743 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new stake in shares of DexCom during the 2nd quarter valued at $2,003,000. Institutional investors own 97.75% of the company’s stock.

Insider Transactions at DexCom

In related news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the transaction, the chief operating officer now owns 264,915 shares in the company, valued at approximately $18,318,872.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total value of $51,585.90. Following the sale, the chief operating officer now directly owns 264,915 shares in the company, valued at $18,318,872.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Jon Brown sold 652 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.55, for a total value of $45,346.60. Following the transaction, the executive vice president now owns 66,249 shares of the company’s stock, valued at $4,607,617.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,824 shares of company stock worth $126,390 in the last quarter. Insiders own 0.30% of the company’s stock.

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 provides its systems for use by people with diabetes, as well as for use by healthcare providers. Its products include Dexcom G6 and Dexcom G7, integrated CGM systems for diabetes management; Dexcom Share, a remote monitoring system; Dexcom Real-Time API, which enables authorized third-party software developers to integrate real-time CGM data into their digital health apps and devices; and Dexcom ONE, that is designed to replace finger stick blood glucose testing for diabetes treatment decisions.