DexCom (NASDAQ:DXCM) Upgraded by StockNews.com to Buy

DexCom (NASDAQ:DXCM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other analysts have also recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $90.00 target price on shares of DexCom in a research report on Monday, August 26th. Wells Fargo & Company upped their target price on shares of DexCom from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday. BTIG Research decreased their target price on shares of DexCom from $156.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Robert W. Baird upped their target price on shares of DexCom from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Oppenheimer decreased their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $104.59.

DexCom Price Performance

DXCM stock traded down $1.41 during mid-day trading on Friday, hitting $73.44. The company had a trading volume of 14,560,038 shares, compared to its average volume of 3,904,948. The company has a market capitalization of $29.21 billion, a price-to-earnings ratio of 47.38, a P/E/G ratio of 2.16 and a beta of 1.18. The company has a 50-day moving average price of $70.11 and a 200 day moving average price of $98.24. The company has a quick ratio of 2.48, a current ratio of 2.82 and a debt-to-equity ratio of 1.00. DexCom has a 12-month low of $62.34 and a 12-month high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, October 24th. The medical device company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The business had revenue of $994.20 million during the quarter, compared to analysts’ expectations of $991.55 million. On average, research analysts anticipate that DexCom will post 1.69 earnings per share for the current year.

Insider Transactions at DexCom

In other news, EVP Sadie Stern sold 426 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares of the company’s stock, valued at approximately $5,217,436.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Sadie Stern sold 426 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $29,457.90. Following the transaction, the executive vice president now directly owns 75,451 shares in the company, valued at approximately $5,217,436.65. This trade 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. Also, COO Jacob Steven Leach sold 746 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,824 shares of company stock valued at $126,390. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DexCom

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in DexCom by 0.3% in the first quarter. Vanguard Group Inc. now owns 44,603,745 shares of the medical device company’s stock valued at $6,186,539,000 after acquiring an additional 136,282 shares in the last quarter. Blair William & Co. IL boosted its stake in DexCom by 1.4% in the first quarter. Blair William & Co. IL now owns 4,532,687 shares of the medical device company’s stock valued at $628,684,000 after acquiring an additional 64,683 shares in the last quarter. Legal & General Group Plc boosted its stake in 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 acquiring an additional 49,076 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in DexCom by 16.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,439,033 shares of the medical device company’s stock valued at $276,538,000 after acquiring an additional 353,019 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in DexCom by 1.1% in the first quarter. 1832 Asset Management L.P. now owns 1,823,400 shares of the medical device company’s stock valued at $252,906,000 after acquiring an additional 20,400 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

About DexCom

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.