StockNews.com Upgrades DexCom (NASDAQ:DXCM) to Buy

StockNews.com upgraded shares of DexCom (NASDAQ:DXCM) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other research firms have also issued reports on DXCM. Oppenheimer dropped their price objective on shares of DexCom from $150.00 to $115.00 and set an outperform rating for the company in a research report on Friday, July 26th. Baird R W lowered DexCom from a strong-buy rating to a hold rating in a research report on Friday, July 26th. Canaccord Genuity Group restated a buy rating and set a $145.00 price objective on shares of DexCom in a research note on Tuesday, July 23rd. Redburn Atlantic started coverage on DexCom in a research note on Thursday, May 30th. They issued a neutral rating and a $130.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on DexCom from $90.00 to $100.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $112.25.

DexCom Price Performance

Shares of DexCom stock opened at $67.29 on Tuesday. The stock has a market capitalization of $26.76 billion, a P/E ratio of 43.86, a PEG ratio of 2.16 and a beta of 1.18. The company has a current ratio of 2.82, a quick ratio of 2.48 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average price is $74.55 and its 200 day moving average price is $107.88. DexCom has a twelve month low of $62.34 and a twelve month high of $142.00.

DexCom (NASDAQ:DXCM) last released its quarterly earnings data on Thursday, July 25th. The medical device company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.04 billion. DexCom had a return on equity of 31.41% and a net margin of 16.95%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. As a group, research analysts anticipate that DexCom will post 1.69 earnings per share for the current year.

Insider Transactions at DexCom

In other DexCom news, COO Jacob Steven Leach sold 746 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $51,585.90. Following the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other DexCom news, COO Jacob Steven Leach sold 746 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $69.15, for a total transaction of $51,585.90. Following the completion of the sale, the chief operating officer now owns 264,915 shares in the company, valued at $18,318,872.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sadie Stern sold 426 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $69.15, for a total transaction of $29,457.90. Following the sale, the executive vice president now directly owns 75,451 shares in the company, valued at $5,217,436.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,824 shares of company stock valued at $126,390. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On DexCom

Several institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of DexCom during the second quarter worth about $25,000. Sachetta LLC boosted its stake in DexCom by 255.2% during the 2nd quarter. Sachetta LLC now owns 238 shares of the medical device company’s stock valued at $27,000 after purchasing an additional 171 shares during the period. Crewe Advisors LLC bought a new position in DexCom in the 1st quarter worth about $29,000. Riverview Trust Co acquired a new stake in shares of DexCom in the first quarter valued at approximately $32,000. Finally, DT Investment Partners LLC increased its holdings in shares of DexCom by 492.2% during the second quarter. DT Investment Partners LLC now owns 379 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 315 shares during the period. 97.75% of the stock is owned by institutional investors.

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.