DexCom (NASDAQ:DXCM) Trading Up 6.7% Following Analyst Upgrade

DexCom, Inc. (NASDAQ:DXCM) traded up 6.7% during trading on Thursday after Truist Financial raised their price target on the stock from $80.00 to $87.00. Truist Financial currently has a buy rating on the stock. DexCom traded as high as $78.00 and last traded at $77.63. 549,032 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 5,237,604 shares. The stock had previously closed at $72.73.

A number of other research firms have also weighed in on DXCM. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $91.00 price objective on shares of DexCom in a research note on Monday, June 8th. Canaccord Genuity Group set a $82.00 target price on DexCom and gave the stock a “buy” rating in a research note on Monday, May 18th. Bank of America decreased their price target on DexCom from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 18th. UBS Group set a $95.00 price objective on shares of DexCom in a report on Wednesday, June 10th. Finally, Mizuho increased their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and an average price target of $85.36.

Insiders Place Their Bets

In other news, EVP Michael Jon Brown sold 1,700 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $75.55, for a total value of $128,435.00. Following the completion of the transaction, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. The trade was a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark G. Foletta sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $74.13, for a total value of $296,520.00. Following the completion of the sale, the director owned 52,852 shares in the company, valued at approximately $3,917,918.76. This represents a 7.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 71,750 shares of company stock worth $5,163,241. 0.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently modified their holdings of DXCM. Norges Bank acquired a new position in DexCom in the 4th quarter worth about $483,356,000. AQR Capital Management LLC grew its holdings in DexCom by 597.8% in the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock valued at $205,932,000 after purchasing an additional 2,658,158 shares during the period. Employees Provident Fund Board purchased a new stake in shares of DexCom in the fourth quarter valued at approximately $145,352,000. J. Stern & Co. LLP raised its stake in shares of DexCom by 2,114.8% during the 4th quarter. J. Stern & Co. LLP now owns 1,601,973 shares of the medical device company’s stock worth $106,323,000 after buying an additional 1,529,641 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of DexCom by 271.4% during the 1st quarter. SG Americas Securities LLC now owns 2,065,277 shares of the medical device company’s stock worth $129,699,000 after buying an additional 1,509,219 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Down 1.7%

The stock has a market cap of $29.58 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a current ratio of 1.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $71.16 and a 200-day moving average price of $68.73.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. As a group, analysts forecast that DexCom, Inc. will post 2.57 earnings per share for the current year.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.