DexCom (NASDAQ:DXCM) Now Covered by The Goldman Sachs Group

Research analysts at The Goldman Sachs Group assumed coverage on shares of DexCom (NASDAQ:DXCM) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $104.00 price target on the medical device company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 22.55% from the stock’s current price.

Several other research firms also recently commented on DXCM. Redburn Atlantic upgraded shares of DexCom from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $115.00 in a research note on Monday, February 3rd. Barclays lifted their price objective on shares of DexCom from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Piper Sandler decreased their target price on shares of DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Citigroup restated a “buy” rating and set a $102.00 target price (up from $82.00) on shares of DexCom in a research report on Thursday, May 22nd. Finally, Cfra Research upgraded shares of DexCom to a “hold” rating in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.32.

DexCom Price Performance

Shares of DXCM opened at $84.86 on Friday. The company has a market cap of $33.27 billion, a price-to-earnings ratio of 59.34, a price-to-earnings-growth ratio of 2.30 and a beta of 1.43. DexCom has a twelve month low of $57.52 and a twelve month high of $127.61. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $74.42 and a two-hundred day moving average of $78.57.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm 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%. DexCom’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. As a group, analysts predict that DexCom will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other DexCom news, CEO Kevin R. Sayer sold 32,498 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $70.38, for a total value of $2,287,209.24. Following the transaction, the chief executive officer now directly owns 372,029 shares in the company, valued at $26,183,401.02. The trade was a 8.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sadie Stern sold 6,184 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total transaction of $526,320.24. Following the completion of the transaction, the executive vice president now owns 109,621 shares in the company, valued at approximately $9,329,843.31. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,110 shares of company stock worth $6,103,505 in the last ninety days. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On DexCom

Large investors have recently made changes to their positions in the stock. Anderson Financial Strategies LLC acquired a new stake in DexCom during the 1st quarter worth approximately $37,000. Strs Ohio acquired a new stake in DexCom during the 1st quarter worth approximately $15,338,000. Mattson Financial Services LLC lifted its holdings in DexCom by 34.4% during the 1st quarter. Mattson Financial Services LLC now owns 28,376 shares of the medical device company’s stock worth $1,938,000 after buying an additional 7,257 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in DexCom by 275.1% during the 1st quarter. Acadian Asset Management LLC now owns 188,628 shares of the medical device company’s stock worth $12,870,000 after buying an additional 138,335 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock worth $493,000 after buying an additional 841 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.