DexCom’s (DXCM) “Buy” Rating Reaffirmed at Citigroup

Citigroup reiterated their buy rating on shares of DexCom (NASDAQ:DXCM) in a research note released on Thursday morning, MarketBeat Ratings reports. Citigroup currently has a $102.00 price objective on the medical device company’s stock, up from their prior price objective of $82.00.

Several other equities analysts have also recently issued reports on DXCM. Canaccord Genuity Group lifted their price objective on DexCom from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Mizuho started coverage on DexCom in a report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price objective for the company. Piper Sandler reduced their price objective on DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of DexCom in a report on Saturday, March 8th. Finally, Cfra Research raised DexCom to a “hold” rating in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, DexCom currently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

DexCom Stock Down 0.1%

DXCM opened at $84.83 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.47 and a quick ratio of 1.28. The business has a 50 day simple moving average of $73.26 and a 200-day simple moving average of $78.02. The stock has a market capitalization of $33.26 billion, a P/E ratio of 59.32, a P/E/G ratio of 2.30 and a beta of 1.43. DexCom has a 12 month low of $57.52 and a 12 month high of $129.97.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. DexCom had a net margin of 14.29% and a return on equity of 30.14%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. On average, equities analysts anticipate that DexCom will post 2.03 earnings per share for the current fiscal year.

Insider Activity at DexCom

In related news, EVP Michael Jon Brown sold 13,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $70.38, for a total value of $914,940.00. Following the completion of the transaction, the executive vice president now directly owns 105,602 shares in the company, valued at approximately $7,432,268.76. This represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jereme M. Sylvain sold 7,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $73.83, for a total value of $516,810.00. Following the completion of the transaction, the executive vice president now owns 135,482 shares of the company’s stock, valued at $10,002,636.06. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,926 shares of company stock worth $4,734,384. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DexCom

A number of institutional investors have recently added to or reduced their stakes in DXCM. Merit Financial Group LLC purchased a new stake in DexCom during the fourth quarter valued at about $228,000. UMB Bank n.a. grew its position in DexCom by 82.4% during the fourth quarter. UMB Bank n.a. now owns 1,678 shares of the medical device company’s stock valued at $130,000 after acquiring an additional 758 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in DexCom by 46.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 833 shares of the medical device company’s stock valued at $65,000 after acquiring an additional 265 shares during the period. Ballentine Partners LLC purchased a new stake in DexCom during the fourth quarter valued at about $215,000. Finally, Atomi Financial Group Inc. grew its position in DexCom by 36.5% during the fourth quarter. Atomi Financial Group Inc. now owns 5,374 shares of the medical device company’s stock valued at $418,000 after acquiring an additional 1,438 shares during the period. Hedge funds and other institutional investors 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.