Truist Financial Has Lowered Expectations for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its target price reduced by equities researchers at Truist Financial from $102.00 to $94.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the medical device company’s stock. Truist Financial’s price objective would indicate a potential upside of 41.72% from the stock’s current price.

A number of other research firms have also weighed in on DXCM. Canaccord Genuity Group reiterated a “buy” rating and issued a $106.00 price objective on shares of DexCom in a research note on Monday, September 29th. The Goldman Sachs Group decreased their price target on shares of DexCom from $104.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Argus assumed coverage on shares of DexCom in a research note on Thursday, August 21st. They issued a “buy” rating and a $100.00 price target on the stock. UBS Group raised their price objective on shares of DexCom from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Finally, Robert W. Baird dropped their price target on shares of DexCom from $112.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, DexCom presently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

DexCom Stock Performance

Shares of NASDAQ:DXCM opened at $66.33 on Wednesday. The company has a market capitalization of $26.01 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 1.37 and a beta of 1.47. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. DexCom has a 12 month low of $57.52 and a 12 month high of $93.25. The firm’s 50-day moving average is $73.59 and its 200 day moving average is $77.52.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. DexCom has set its FY 2025 guidance at EPS. Research analysts predict that DexCom will post 2.03 EPS for the current year.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 500 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the transaction, the executive vice president directly owned 94,102 shares of the company’s stock, valued at $7,555,449.58. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the sale, the executive vice president directly owned 105,223 shares in the company, valued at $8,417,840. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,849 shares of company stock valued at $564,733. Company insiders own 0.32% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds have recently made changes to their positions in DXCM. Andra AP fonden bought a new stake in shares of DexCom during the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of DexCom in the 2nd quarter valued at approximately $26,000. Golden State Wealth Management LLC grew its stake in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock valued at $27,000 after buying an additional 264 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in DexCom during the first quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in DexCom during the second quarter worth approximately $45,000. Institutional investors and hedge funds 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.