DexCom (NASDAQ:DXCM) Trading Down 4.9% on Analyst Downgrade

Shares of DexCom, Inc. (NASDAQ:DXCM) were down 4.9% on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $104.00 to $89.00. The Goldman Sachs Group currently has a buy rating on the stock. DexCom traded as low as $63.94 and last traded at $63.97. Approximately 1,469,960 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 4,167,058 shares. The stock had previously closed at $67.29.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird decreased their price target on DexCom from $112.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Piper Sandler increased their price target on DexCom from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Mizuho increased their price target on DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Truist Financial started coverage on DexCom in a research note on Monday, June 16th. They issued a “buy” rating and a $102.00 price target for the company. Finally, William Blair raised DexCom to a “strong-buy” rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.32.

Insiders Place Their Bets

In other DexCom news, Director Kyle Malady sold 667 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $80.86, for a total value of $53,933.62. Following the completion of the sale, the director owned 22,667 shares of the company’s stock, valued at approximately $1,832,853.62. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark G. Foletta sold 2,750 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares of the company’s stock, valued at $4,143,868.26. This trade represents a 5.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,849 shares of company stock worth $564,733. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of DexCom by 1.8% in the second quarter. Vanguard Group Inc. now owns 48,322,405 shares of the medical device company’s stock valued at $4,218,063,000 after purchasing an additional 866,506 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of DexCom by 9.4% in the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock valued at $1,005,367,000 after purchasing an additional 994,300 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of DexCom by 3.4% in the second quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock valued at $936,100,000 after purchasing an additional 358,617 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of DexCom by 22.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,123,525 shares of the medical device company’s stock valued at $691,336,000 after purchasing an additional 1,868,241 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of DexCom in the first quarter valued at approximately $554,893,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Stock Down 1.8%

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35. The stock has a fifty day moving average price of $77.16 and a two-hundred day moving average price of $77.94. The company has a market cap of $25.91 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47.

DexCom (NASDAQ:DXCM) last posted its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. DexCom had a return on equity of 30.41% and a net margin of 13.29%.The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. DexCom has set its FY 2025 guidance at EPS. On average, research analysts expect that DexCom, Inc. will post 2.03 EPS for the current year.

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.