DexCom (NASDAQ:DXCM) Hits New 52-Week Low on Analyst Downgrade

DexCom, Inc. (NASDAQ:DXCM) shares reached a new 52-week low during mid-day trading on Friday after Argus lowered their price target on the stock from $100.00 to $90.00. Argus currently has a buy rating on the stock. DexCom traded as low as $55.02 and last traded at $55.0870, with a volume of 2847181 shares. The stock had previously closed at $58.02.

Several other analysts have also recently issued reports on the stock. Citigroup reduced their price target on shares of DexCom from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of DexCom in a report on Wednesday, October 8th. Mizuho raised their price target on shares of DexCom from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on shares of DexCom from $82.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Cowen reiterated a “buy” rating on shares of DexCom in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.86.

Insiders Place Their Bets

In other DexCom news, Director Kyle Malady sold 667 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $80.86, for a total value of $53,933.62. Following the transaction, the director directly owned 22,667 shares in the company, valued at $1,832,853.62. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sadie Stern sold 1,466 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the sale, the executive vice president owned 105,223 shares of the company’s stock, valued at $8,417,840. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,383 shares of company stock worth $434,274 over the last 90 days. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On DexCom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Horizon Investments LLC boosted its stake in DexCom by 2.2% in the first quarter. Horizon Investments LLC now owns 5,608 shares of the medical device company’s stock valued at $383,000 after acquiring an additional 123 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of DexCom by 1.2% in the 1st quarter. Wedbush Securities Inc. now owns 13,168 shares of the medical device company’s stock valued at $899,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of DexCom by 2.5% in the 3rd quarter. GAMMA Investing LLC now owns 7,043 shares of the medical device company’s stock valued at $474,000 after purchasing an additional 169 shares during the period. Inspire Investing LLC grew its stake in DexCom by 6.1% during the 3rd quarter. Inspire Investing LLC now owns 3,139 shares of the medical device company’s stock worth $211,000 after buying an additional 180 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its position in DexCom by 3.2% during the first quarter. Argonautica Private Wealth Management Inc. now owns 5,958 shares of the medical device company’s stock worth $407,000 after buying an additional 182 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.

DexCom Stock Performance

The company has a quick ratio of 1.35, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $69.65 and a 200 day simple moving average of $77.65. The company has a market cap of $21.32 billion, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.40.

DexCom (NASDAQ:DXCM) last announced its earnings results on Thursday, October 30th. The medical device company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. DexCom has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that DexCom, Inc. will post 2.03 earnings per share for the current fiscal year.

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 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.