DexCom (NASDAQ:DXCM) Rating Increased 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 report issued on Saturday.

Several other research analysts have also commented on DXCM. William Blair upgraded shares of DexCom to a “strong-buy” rating in a research note on Thursday, July 31st. The Goldman Sachs Group lowered their target price on shares of DexCom from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Oppenheimer cut DexCom from an “outperform” rating to a “market perform” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. decreased their price target on DexCom from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Canaccord Genuity Group set a $99.00 price objective on DexCom and gave the company a “buy” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.86.

DexCom Price Performance

DXCM opened at $55.00 on Friday. The stock has a fifty day moving average price of $69.24 and a 200 day moving average price of $77.65. The company has a current ratio of 1.52, a quick ratio of 1.35 and a debt-to-equity ratio of 0.48. DexCom has a 1 year low of $54.11 and a 1 year high of $93.25. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 1.43 and a beta of 1.40.

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

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 500 shares of DexCom stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $80.29, for a total value of $40,145.00. Following the transaction, the executive vice president directly owned 94,102 shares of the company’s stock, valued at $7,555,449.58. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark G. Foletta sold 2,750 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $81.06, for a total value of $222,915.00. Following the completion of the sale, the director directly owned 51,121 shares of the company’s stock, valued at $4,143,868.26. This represents a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 5,383 shares of company stock worth $434,274. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several large investors have recently added to or reduced their stakes in DXCM. King Wealth Management Group acquired a new position in shares of DexCom in the third quarter valued at $269,000. Marble Harbor Investment Counsel LLC increased its holdings in DexCom by 2.7% in the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 162,948 shares of the medical device company’s stock valued at $10,965,000 after buying an additional 4,293 shares during the period. Beirne Wealth Consulting Services LLC acquired a new position in shares of DexCom in the 3rd quarter valued at $208,000. NEOS Investment Management LLC lifted its holdings in shares of DexCom by 58.7% during the 3rd quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock worth $11,842,000 after acquiring an additional 65,066 shares during the period. Finally, Rothschild Investment LLC boosted its position in shares of DexCom by 59.9% during the 3rd quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock valued at $44,000 after acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds 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.