DexCom (NASDAQ:DXCM) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of DexCom (NASDAQ:DXCM) from a buy rating to a hold rating in a research report released on Tuesday.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada began coverage on DexCom in a research report on Tuesday, March 12th. They set an outperform rating and a $165.00 price target for the company. Citigroup upped their price target on shares of DexCom from $148.00 to $161.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Raymond James lifted their price objective on shares of DexCom from $147.00 to $151.00 and gave the company a strong-buy rating in a research report on Tuesday, January 23rd. Finally, UBS Group upped their target price on shares of DexCom from $153.00 to $163.00 and gave the company a buy rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $141.40.

DexCom Stock Performance

Shares of DXCM opened at $134.00 on Tuesday. The stock has a market capitalization of $51.66 billion, a price-to-earnings ratio of 102.29, a PEG ratio of 2.25 and a beta of 1.20. DexCom has a 12 month low of $74.75 and a 12 month high of $142.00. The firm has a fifty day simple moving average of $130.15 and a 200 day simple moving average of $117.74. The company has a current ratio of 2.84, a quick ratio of 2.48 and a debt-to-equity ratio of 1.18.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, February 8th. The medical device company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. DexCom had a net margin of 14.95% and a return on equity of 28.31%. The company’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. Research analysts forecast that DexCom will post 1.76 EPS for the current fiscal year.

Insider Transactions at DexCom

In related news, CFO Jereme M. Sylvain sold 3,363 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $116.73, for a total value of $392,562.99. Following the completion of the sale, the chief financial officer now directly owns 71,142 shares in the company, valued at approximately $8,304,405.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kevin R. Sayer sold 81,007 shares of DexCom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $133.36, for a total value of $10,803,093.52. Following the completion of the sale, the chief executive officer now directly owns 333,526 shares in the company, valued at $44,479,027.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jereme M. Sylvain sold 3,363 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $116.73, for a total value of $392,562.99. Following the completion of the sale, the chief financial officer now owns 71,142 shares of the company’s stock, valued at $8,304,405.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,375 shares of company stock worth $25,530,859. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXCM. Cary Street Partners Investment Advisory LLC grew its stake in DexCom by 11.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,153 shares of the medical device company’s stock worth $108,000 after buying an additional 115 shares in the last quarter. CX Institutional acquired a new stake in shares of DexCom during the 4th quarter worth approximately $286,000. Cerity Partners LLC boosted its position in shares of DexCom by 5,791.0% during the 4th quarter. Cerity Partners LLC now owns 463,973 shares of the medical device company’s stock worth $57,574,000 after acquiring an additional 456,097 shares in the last quarter. abrdn plc increased its stake in DexCom by 21.1% in the fourth quarter. abrdn plc now owns 380,535 shares of the medical device company’s stock valued at $47,221,000 after acquiring an additional 66,348 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in DexCom during the fourth quarter valued at approximately $57,000. 97.75% of the stock is owned by institutional investors and hedge funds.

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.