DexCom (NASDAQ:DXCM) Hits New 1-Year High – Still a Buy?

Shares of DexCom, Inc. (NASDAQ:DXCM) reached a new 52-week high during trading on Monday . The stock traded as high as $88.01 and last traded at $87.5840, with a volume of 1501585 shares traded. The stock had previously closed at $84.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird set a $105.00 price target on DexCom in a research note on Friday, July 31st. Royal Bank Of Canada boosted their price objective on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Argus increased their price target on shares of DexCom from $86.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings lowered shares of DexCom from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on DexCom in a report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, DexCom presently has an average rating of “Moderate Buy” and an average target price of $88.71.

DexCom Stock Performance

The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. The stock has a market cap of $33.26 billion, a P/E ratio of 34.79, a PEG ratio of 1.42 and a beta of 1.41. The stock has a fifty day simple moving average of $74.42 and a 200-day simple moving average of $69.73.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Equities analysts expect that DexCom, Inc. will post 2.65 earnings per share for the current fiscal year.

Insider Activity at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $75.55, for a total transaction of $128,435.00. Following the completion of the sale, the executive vice president owned 106,353 shares of the company’s stock, valued at $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,759 shares of DexCom stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $72.00, for a total value of $1,926,648.00. Following the completion of the sale, the insider directly owned 382,482 shares in the company, valued at $27,538,704. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 102,506 shares of company stock worth $7,535,898 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DexCom

Several hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after acquiring an additional 11,946 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of DexCom by 6.3% in the first quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after acquiring an additional 196 shares in the last quarter. Empowered Funds LLC raised its position in shares of DexCom by 5.4% in the first quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after buying an additional 436 shares in the last quarter. Focus Partners Wealth raised its position in DexCom by 13.2% during the first quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after purchasing an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of DexCom by 1.4% in the second quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock worth $1,681,000 after acquiring an additional 258 shares during the last quarter. 97.75% of the stock is owned by institutional investors.

DexCom Company Profile

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.