DexCom (NASDAQ:DXCM) Raised to Buy at Wall Street Zen

DexCom (NASDAQ:DXCM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research firms have also weighed in on DXCM. Barclays boosted their target price on shares of DexCom from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Citigroup reiterated a “buy” rating and set a $102.00 target price (up previously from $82.00) on shares of DexCom in a research note on Thursday, May 22nd. Cfra Research upgraded shares of DexCom to a “hold” rating in a research note on Friday, March 21st. Mizuho assumed coverage on shares of DexCom in a research note on Thursday, April 10th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Robert W. Baird lowered their target price on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Four equities 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. Based on data from MarketBeat, DexCom has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

DexCom Trading Down 1.2%

Shares of DXCM stock opened at $80.00 on Friday. The firm’s 50 day moving average price is $80.08 and its two-hundred day moving average price is $79.40. DexCom has a fifty-two week low of $57.52 and a fifty-two week high of $117.27. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.55. The stock has a market cap of $31.37 billion, a price-to-earnings ratio of 59.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.46.

DexCom (NASDAQ:DXCM) last posted its earnings results 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 return on equity of 30.05% and a net margin of 12.90%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts anticipate that DexCom will post 2.03 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 10,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $84.28, for a total value of $842,800.00. Following the transaction, the executive vice president now owns 95,602 shares in the company, valued at $8,057,336.56. This represents a 9.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sadie Stern sold 6,184 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $85.11, for a total value of $526,320.24. Following the completion of the sale, the executive vice president now directly owns 109,621 shares of the company’s stock, valued at approximately $9,329,843.31. The trade was a 5.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,724 shares of company stock worth $2,157,034. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

Large investors have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in DexCom during the fourth quarter worth approximately $5,812,000. SBI Securities Co. Ltd. bought a new stake in DexCom during the fourth quarter worth approximately $49,000. Sanctuary Advisors LLC boosted its position in DexCom by 21.7% during the fourth quarter. Sanctuary Advisors LLC now owns 18,061 shares of the medical device company’s stock worth $1,405,000 after purchasing an additional 3,226 shares during the period. First American Bank bought a new stake in DexCom during the fourth quarter worth approximately $2,042,000. Finally, Focus Partners Wealth bought a new stake in DexCom during the fourth quarter worth approximately $496,000. Institutional investors own 97.75% 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.