DexCom (NASDAQ:DXCM) Receives “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of DexCom (NASDAQ:DXCM) in a research report released on Monday,Benzinga reports. They currently have a $106.00 price target on the medical device company’s stock.

A number of other equities analysts have also issued reports on DXCM. UBS Group raised their price target on DexCom from $105.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Argus started coverage on DexCom in a research report on Thursday, August 21st. They set a “buy” rating and a $100.00 price objective for the company. Robert W. Baird lowered their target price on DexCom from $112.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. William Blair raised DexCom to a “strong-buy” rating in a report on Thursday, July 31st. Finally, Truist Financial initiated coverage on DexCom in a report on Monday, June 16th. They set a “buy” rating and a $102.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.32.

DexCom Stock Performance

Shares of DexCom stock opened at $66.08 on Monday. The firm’s fifty day simple moving average is $77.16 and its 200-day simple moving average is $77.94. DexCom has a 12 month low of $57.52 and a 12 month high of $93.25. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 1.41 and a beta of 1.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 1.35.

DexCom (NASDAQ:DXCM) last issued its quarterly earnings results on Wednesday, July 30th. The medical device company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.43 EPS. DexCom’s quarterly revenue was up 15.2% compared to the same quarter last year. DexCom has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that DexCom will post 2.03 earnings per share for the current year.

Insiders Place Their Bets

In other DexCom news, EVP Michael Jon Brown sold 500 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 94,102 shares of the company’s stock, valued at approximately $7,555,449.58. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 1,466 shares of the business’s stock in a transaction 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 in the company, valued at $8,417,840. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,849 shares of company stock valued at $564,733 in the last three months. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors have recently added to or reduced their stakes in DXCM. Andra AP fonden acquired a new position in DexCom during the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of DexCom during the 2nd quarter worth approximately $26,000. Golden State Wealth Management LLC grew its holdings in shares of DexCom by 211.2% in the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after acquiring an additional 264 shares during the period. Zions Bancorporation National Association UT purchased a new position in DexCom in the 1st quarter valued at approximately $27,000. Finally, Anderson Financial Strategies LLC purchased a new position in DexCom during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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.