TD Cowen Issues Pessimistic Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its target price cut by analysts at TD Cowen from $100.00 to $84.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. TD Cowen’s price target would suggest a potential upside of 44.28% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus started coverage on DexCom in a research report on Tuesday, October 21st. They set a “buy” rating and a $85.00 target price on the stock. Raymond James Financial increased their target price on DexCom from $99.00 to $102.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 31st. Truist Financial cut their price target on shares of DexCom from $102.00 to $94.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. The Goldman Sachs Group cut 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. Finally, Barclays increased their price target on shares of DexCom from $93.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.65.

DexCom Stock Performance

Shares of DXCM opened at $58.22 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. The company has a market capitalization of $22.83 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 1.43 and a beta of 1.47. The company’s 50 day simple moving average is $70.94 and its 200 day simple moving average is $77.96. DexCom has a 1 year low of $56.44 and a 1 year high of $93.25.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings data on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. DexCom has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that DexCom will post 2.03 EPS for the current year.

Insider Buying and Selling at DexCom

In other news, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction 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 owned 51,121 shares of the company’s stock, valued at $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kyle Malady sold 667 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $80.86, for a total transaction of $53,933.62. Following the completion of the sale, the director directly owned 22,667 shares of the company’s stock, valued at $1,832,853.62. The trade was a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,383 shares of company stock worth $434,274 over the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DexCom

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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 worth $4,218,063,000 after acquiring an additional 866,506 shares in the last quarter. Jennison Associates LLC increased its stake in DexCom by 9.4% during the 2nd quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after buying an additional 994,300 shares during the period. Geode Capital Management LLC increased its stake in DexCom by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,766,356 shares of the medical device company’s stock worth $936,100,000 after buying an additional 358,617 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DexCom by 22.6% during the 1st 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 worth $691,336,000 after buying an additional 1,868,241 shares during the period. Finally, Nuveen LLC purchased a new stake in DexCom during the 1st quarter worth $554,893,000. 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.