DexCom (NASDAQ:DXCM) Upgraded at Evercore

Evercore upgraded shares of DexCom (NASDAQ:DXCM) from an in-line rating to an outperform rating in a research note published on Tuesday morning, MarketBeat reports. The brokerage currently has $90.00 price objective on the medical device company’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial restated a “buy” rating and issued a $80.00 target price (down from $82.00) on shares of DexCom in a report on Tuesday, February 17th. Mizuho lifted their price target on shares of DexCom from $78.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Canaccord Genuity Group set a $95.00 price objective on shares of DexCom and gave the company a “buy” rating in a research note on Friday, February 13th. BTIG Research reaffirmed a “buy” rating and set a $85.00 price objective on shares of DexCom in a report on Monday, March 9th. Finally, Wells Fargo & Company dropped their price objective on DexCom from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.50.

DexCom Price Performance

Shares of NASDAQ DXCM opened at $66.09 on Tuesday. The stock’s 50-day simple moving average is $70.21 and its 200-day simple moving average is $67.81. The firm has a market capitalization of $25.44 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 1.30 and a beta of 1.48. DexCom has a fifty-two week low of $54.11 and a fifty-two week high of $89.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.88.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, February 12th. The medical device company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.25 billion. DexCom had a return on equity of 32.12% and a net margin of 17.94%.The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that DexCom will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other DexCom news, EVP Michael Jon Brown sold 1,700 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $64.85, for a total transaction of $110,245.00. Following the transaction, the executive vice president directly owned 112,904 shares of the company’s stock, valued at approximately $7,321,824.40. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DexCom

Hedge funds have recently made changes to their positions in the business. Reflection Asset Management acquired a new position in DexCom in the 4th quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in DexCom during the 2nd quarter worth approximately $26,000. SJS Investment Consulting Inc. lifted its position in DexCom by 4,800.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 392 shares of the medical device company’s stock worth $26,000 after acquiring an additional 384 shares during the period. Financial Consulate Inc. purchased a new position in shares of DexCom in the 3rd quarter valued at approximately $29,000. Finally, CVA Family Office LLC grew its stake in shares of DexCom by 48.5% in the 4th quarter. CVA Family Office LLC now owns 450 shares of the medical device company’s stock valued at $30,000 after purchasing an additional 147 shares during the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

About DexCom

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.