Piper Sandler Analysts Lower Earnings Estimates for DexCom, Inc. (NASDAQ:DXCM)

DexCom, Inc. (NASDAQ:DXCM) – Analysts at Piper Sandler dropped their Q4 2020 earnings per share estimates for shares of DexCom in a research note issued to investors on Tuesday, July 28th. Piper Sandler analyst M. O’brien now anticipates that the medical device company will post earnings of $0.90 per share for the quarter, down from their previous estimate of $1.09. Piper Sandler currently has a “Overweight” rating and a $465.00 target price on the stock. Piper Sandler also issued estimates for DexCom’s Q1 2021 earnings at $0.40 EPS, Q2 2021 earnings at $0.70 EPS and FY2021 earnings at $3.66 EPS.

DexCom (NASDAQ:DXCM) last issued its earnings results on Tuesday, July 28th. The medical device company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.48. The company had revenue of $451.80 million during the quarter, compared to the consensus estimate of $415.21 million. DexCom had a net margin of 11.93% and a return on equity of 29.01%. DexCom’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS.

Several other brokerages also recently weighed in on DXCM. Morgan Stanley upped their target price on shares of DexCom from $377.00 to $428.00 and gave the stock an “equal weight” rating in a report on Wednesday. Canaccord Genuity increased their price objective on shares of DexCom from $435.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded shares of DexCom from a “buy” rating to a “hold” rating and set a $430.00 price objective for the company. in a report on Monday, June 22nd. Robert W. Baird increased their price objective on shares of DexCom from $296.00 to $373.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Cowen increased their price objective on shares of DexCom from $430.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. DexCom has a consensus rating of “Buy” and an average price target of $394.95.

Shares of DexCom stock opened at $435.54 on Friday. The company has a market capitalization of $41.70 billion, a P/E ratio of 198.88, a P/E/G ratio of 4.70 and a beta of 0.79. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.41 and a current ratio of 7.58. The company has a fifty day moving average of $410.52 and a 200 day moving average of $325.07. DexCom has a fifty-two week low of $138.28 and a fifty-two week high of $446.50.

In related news, EVP Jacob Steven Leach sold 19,129 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $376.76, for a total value of $7,207,042.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Shelly Ramasamy Selvaraj sold 400 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $404.05, for a total transaction of $161,620.00. The disclosure for this sale can be found here. Insiders sold a total of 63,293 shares of company stock worth $24,266,963 over the last three months. 0.69% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of DXCM. Baillie Gifford & Co. increased its position in shares of DexCom by 0.3% during the first quarter. Baillie Gifford & Co. now owns 4,830,552 shares of the medical device company’s stock worth $1,300,723,000 after acquiring an additional 15,253 shares during the period. Wellington Management Group LLP increased its position in shares of DexCom by 2.4% during the first quarter. Wellington Management Group LLP now owns 1,578,108 shares of the medical device company’s stock worth $424,938,000 after acquiring an additional 36,470 shares during the period. Geode Capital Management LLC increased its position in shares of DexCom by 9.1% during the first quarter. Geode Capital Management LLC now owns 1,222,304 shares of the medical device company’s stock worth $328,893,000 after acquiring an additional 102,430 shares during the period. Norges Bank purchased a new position in shares of DexCom during the fourth quarter worth approximately $200,017,000. Finally, Janus Henderson Group PLC increased its position in shares of DexCom by 34.0% during the first quarter. Janus Henderson Group PLC now owns 784,992 shares of the medical device company’s stock worth $211,379,000 after acquiring an additional 199,106 shares during the period. 97.08% of the stock is currently owned by institutional investors.

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 offers its systems for ambulatory use by people with diabetes; and for use by healthcare providers. Its products include DexCom G6, a CGM system for diabetes management; DexCom G5 mobile CGM system to communicate directly to patient's mobile device; DexCom G4 PLATINUM system for continuous use by adults with diabetes; and DexCom Share, a remote monitoring system.

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Earnings History and Estimates for DexCom (NASDAQ:DXCM)

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