DexCom (NASDAQ:DXCM) Earns Buy Rating from TD Cowen

DexCom (NASDAQ:DXCM)‘s stock had its “buy” rating reaffirmed by TD Cowen in a note issued to investors on Friday, Benzinga reports. They presently have a $95.00 price target on the medical device company’s stock. TD Cowen’s price target would indicate a potential upside of 7.16% from the stock’s current price.

A number of other analysts have also weighed in on DXCM. UBS Group set a $96.00 target price on shares of DexCom and gave the stock a “buy” rating in a research note on Tuesday, July 28th. BTIG Research reiterated a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of DexCom in a research note on Friday, July 31st. Weiss Ratings upgraded shares of DexCom from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of DexCom from $65.00 to $82.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Stifel Nicolaus set a $95.00 price objective on shares of DexCom and gave the company a “buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.08.

DexCom Stock Up 0.8%

NASDAQ:DXCM traded up $0.72 during midday trading on Friday, reaching $88.65. The company had a trading volume of 836,825 shares, compared to its average volume of 5,078,949. The firm has a market capitalization of $33.45 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 1.46 and a beta of 1.42. The stock’s fifty day simple moving average is $83.82 and its 200-day simple moving average is $73.17. DexCom has a 12-month low of $54.11 and a 12-month high of $92.59. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.DexCom’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 EPS. On average, sell-side analysts anticipate that DexCom will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at DexCom

In other DexCom news, insider Kevin R. Sayer sold 26,756 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the transaction, the insider owned 328,970 shares in the company, valued at approximately $25,106,990.40. The trade was a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nicholas Augustinos sold 6,539 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $84.04, for a total value of $549,537.56. Following the completion of the sale, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. This trade represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 73,504 shares of company stock valued at $5,651,332. Insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

Several institutional investors and hedge funds have recently modified their holdings of DXCM. Sequoia Financial Advisors LLC boosted its stake in shares of DexCom by 15.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,116 shares of the medical device company’s stock worth $1,287,000 after purchasing an additional 2,509 shares during the last quarter. Tidal Investments LLC raised its position in shares of DexCom by 6.5% in the second quarter. Tidal Investments LLC now owns 65,922 shares of the medical device company’s stock valued at $4,440,000 after buying an additional 3,995 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new position in shares of DexCom during the second quarter valued at approximately $230,000. Scholtz & Company LLC lifted its stake in shares of DexCom by 12.7% during the second quarter. Scholtz & Company LLC now owns 77,334 shares of the medical device company’s stock valued at $5,208,000 after buying an additional 8,686 shares during the period. Finally, National Pension Service boosted its position in DexCom by 3.9% during the second quarter. National Pension Service now owns 660,309 shares of the medical device company’s stock worth $44,472,000 after acquiring an additional 24,756 shares during the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company’s products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.