DexCom (NASDAQ:DXCM) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of DexCom (NASDAQ:DXCM) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Other research analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of DexCom from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday. Oppenheimer boosted their target price on shares of DexCom from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup reaffirmed a “buy” rating and issued a $102.00 price objective (up previously from $82.00) on shares of DexCom in a report on Thursday, May 22nd. Robert W. Baird cut their price objective on shares of DexCom from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Barclays lifted their price objective on shares of DexCom from $93.00 to $98.00 and gave the company an “equal weight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $99.89.

DexCom Trading Down 1.8%

NASDAQ DXCM opened at $79.28 on Friday. The company has a market capitalization of $31.09 billion, a PE ratio of 55.06, a P/E/G ratio of 1.68 and a beta of 1.43. The company has a fifty day moving average of $84.57 and a 200 day moving average of $80.63. DexCom has a 1 year low of $57.52 and a 1 year high of $93.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.32.

DexCom (NASDAQ:DXCM) last posted its earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. Research analysts forecast that DexCom will post 2.03 earnings per share for the current year.

Insider Activity at DexCom

In related news, Director Mark G. Foletta sold 2,750 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $83.13, for a total transaction of $228,607.50. Following the transaction, the director directly owned 56,621 shares in the company, valued at approximately $4,706,903.73. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Jon Brown sold 500 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $82.80, for a total transaction of $41,400.00. Following the transaction, the executive vice president owned 95,102 shares in the company, valued at $7,874,445.60. The trade was a 0.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,656 shares of company stock worth $2,412,191 over the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On DexCom

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in DexCom by 9.4% during the second quarter. Jennison Associates LLC now owns 11,517,546 shares of the medical device company’s stock worth $1,005,367,000 after acquiring an additional 994,300 shares during the last quarter. Mizuho Markets Cayman LP acquired a new position in DexCom in the 2nd quarter valued at about $6,459,000. New York Life Investment Management LLC boosted its holdings in DexCom by 0.9% in the 2nd quarter. New York Life Investment Management LLC now owns 58,704 shares of the medical device company’s stock valued at $5,124,000 after purchasing an additional 543 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in DexCom by 81.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 97,644 shares of the medical device company’s stock valued at $8,523,000 after purchasing an additional 43,900 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new position in DexCom in the 2nd quarter valued at about $236,000. 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.