DexCom (NASDAQ:DXCM) Rating Increased to Outperform at Evercore

Evercore upgraded shares of DexCom (NASDAQ:DXCM) from an in-line rating to an outperform rating in a research report released on Tuesday, MarketBeat reports. They currently have $90.00 price target on the medical device company’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reiterated an “overweight” rating on shares of DexCom in a research note on Thursday, February 5th. Mizuho boosted their price target on DexCom from $78.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Wells Fargo & Company reduced their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Robert W. Baird set a $87.00 price objective on DexCom in a research report on Friday, February 13th. Finally, Canaccord Genuity Group set a $95.00 target price on DexCom and gave the company a “buy” rating in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.50.

DexCom Stock Performance

Shares of DXCM opened at $66.60 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.45. The firm has a market cap of $25.63 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The company’s 50 day simple moving average is $70.33 and its 200-day simple moving average is $67.83. DexCom has a 12-month low of $54.11 and a 12-month high of $89.98.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. DexCom had a net margin of 17.94% and a return on equity of 32.12%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. DexCom’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts predict that DexCom will post 2.03 EPS for the current year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of DexCom stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.85, for a total value of $110,245.00. Following the sale, the executive vice president owned 112,904 shares of the company’s stock, valued at approximately $7,321,824.40. The trade was a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Trading of DexCom

Several hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its stake in shares of DexCom by 6.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,679 shares of the medical device company’s stock valued at $1,041,000 after buying an additional 938 shares in the last quarter. World Investment Advisors raised its position in DexCom by 34.6% in the fourth quarter. World Investment Advisors now owns 65,089 shares of the medical device company’s stock worth $4,320,000 after acquiring an additional 16,749 shares in the last quarter. Corient Private Wealth LLC raised its position in DexCom by 241.1% in the fourth quarter. Corient Private Wealth LLC now owns 123,754 shares of the medical device company’s stock worth $8,221,000 after acquiring an additional 87,468 shares in the last quarter. Rehmann Capital Advisory Group acquired a new stake in DexCom in the fourth quarter valued at $245,000. Finally, Employees Provident Fund Board acquired a new stake in DexCom in the fourth quarter valued at $145,352,000. 97.75% of the stock is owned by institutional investors and hedge funds.

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.