Barclays Upgrades DexCom (NASDAQ:DXCM) to “Strong-Buy”

DexCom (NASDAQ:DXCM) was upgraded by Barclays to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

A number of other research firms also recently issued reports on DXCM. Canaccord Genuity Group set a $90.00 price target on DexCom and gave the stock a “buy” rating in a research report on Monday, August 3rd. BTIG Research reiterated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of DexCom in a report on Friday, July 31st. Mizuho raised their target price on shares of DexCom from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. TD Cowen restated a “buy” rating and issued a $95.00 price target on shares of DexCom in a report on Friday, September 18th. Finally, Wells Fargo & Company upped their price target on shares of DexCom from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $91.96.

DexCom Stock Performance

Shares of DexCom stock opened at $84.41 on Wednesday. The stock’s fifty day moving average is $87.52 and its two-hundred day moving average is $75.10. The company has a market capitalization of $31.85 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.48. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.47. DexCom has a 52 week low of $54.11 and a 52 week high of $92.59.

DexCom (NASDAQ:DXCM) last released its 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 business had revenue of $1.31 billion during 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%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. As a group, analysts expect that DexCom will post 2.64 earnings per share for the current year.

Insider Transactions at DexCom

In other DexCom news, Director Nicholas Augustinos sold 6,539 shares of DexCom 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 transaction, the director directly owned 29,293 shares of the company’s stock, valued at approximately $2,461,783.72. The trade was a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jereme Sylvain sold 3,638 shares of DexCom stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $83.27, for a total transaction of $302,936.26. Following the completion of the transaction, the executive vice president directly owned 146,828 shares in the company, valued at $12,226,367.56. This represents a 2.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 49,313 shares of company stock worth $3,945,875. 0.28% of the stock is owned by corporate insiders.

Institutional Trading of DexCom

A number of institutional investors have recently made changes to their positions in DXCM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of DexCom by 15.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,261,876 shares of the medical device company’s stock worth $758,487,000 after buying an additional 1,515,702 shares during the period. Janus Henderson Group PLC raised its stake in DexCom by 32.3% in the 1st quarter. Janus Henderson Group PLC now owns 2,644,539 shares of the medical device company’s stock worth $166,077,000 after acquiring an additional 645,534 shares during the last quarter. Legal & General Group Plc purchased a new position in DexCom in the 2nd quarter worth $173,237,000. Arrowstreet Capital Limited Partnership raised its stake in DexCom by 100.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,545,103 shares of the medical device company’s stock worth $159,832,000 after acquiring an additional 1,275,142 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in DexCom during the 2nd quarter worth about $164,035,000. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc (NASDAQ: DXCM) develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes. Its technology uses a small wearable sensor to measure glucose levels continuously and transmit readings to a compatible receiver, smartphone or other connected device, helping users monitor glucose trends and make more informed treatment and lifestyle decisions.

The company’s product portfolio includes the Dexcom G7 and Dexcom G6 real-time CGM systems, as well as related software and digital health tools such as Dexcom Clarity for glucose data analysis and reporting.