DexCom (NASDAQ:DXCM) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of DexCom (NASDAQ:DXCM) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $102.00 price objective on the medical device company’s stock.

A number of other equities research analysts also recently commented on DXCM. Mizuho started coverage on DexCom in a research report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price objective for the company. Wells Fargo & Company reissued an “overweight” rating on shares of DexCom in a research note on Saturday, March 8th. Cfra Research raised shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Canaccord Genuity Group boosted their target price on shares of DexCom from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Robert W. Baird cut their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

DexCom Stock Performance

Shares of NASDAQ DXCM opened at $83.00 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.28 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $78.95 and a 200-day simple moving average of $79.36. The company has a market cap of $32.54 billion, a PE ratio of 58.04, a P/E/G ratio of 2.30 and a beta of 1.46. DexCom has a 12-month low of $57.52 and a 12-month high of $117.91.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). DexCom had a net margin of 14.29% and a return on equity of 30.14%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted $0.32 EPS. DexCom’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that DexCom will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 10,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total transaction of $842,800.00. Following the completion of the sale, the executive vice president now directly owns 95,602 shares in the company, valued at $8,057,336.56. This represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sadie Stern sold 6,184 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total transaction of $526,320.24. Following the sale, the executive vice president now owns 109,621 shares of the company’s stock, valued at $9,329,843.31. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

Hedge funds have recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in DexCom by 266.3% during the fourth quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC boosted its holdings in DexCom by 211.2% during the first quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock valued at $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT bought a new stake in DexCom during the first quarter valued at about $27,000. Optiver Holding B.V. bought a new stake in shares of DexCom in the fourth quarter valued at about $33,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of DexCom by 62.8% in the fourth quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock valued at $34,000 after buying an additional 167 shares during the period. 97.75% of the stock is currently owned by institutional investors.

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.