DexCom (NASDAQ:DXCM) Stock Rating Upgraded by StockNews.com

DexCom (NASDAQ:DXCM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada started coverage on DexCom in a report on Tuesday, March 12th. They set an “outperform” rating and a $165.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of DexCom from $110.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Piper Sandler lifted their price objective on shares of DexCom from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Finally, Raymond James increased their target price on DexCom from $147.00 to $151.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $139.73.

DexCom Price Performance

DXCM opened at $133.34 on Wednesday. The firm has a market cap of $51.40 billion, a P/E ratio of 101.79, a PEG ratio of 2.35 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.48 and a current ratio of 2.84. DexCom has a fifty-two week low of $74.75 and a fifty-two week high of $142.00. The firm has a 50-day moving average of $126.49 and a 200 day moving average of $113.21.

DexCom (NASDAQ:DXCM) last issued its earnings results on Thursday, February 8th. The medical device company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. DexCom had a return on equity of 28.31% and a net margin of 14.95%. The business’s revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, research analysts expect that DexCom will post 1.76 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jacob Steven Leach sold 3,978 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $123.63, for a total transaction of $491,800.14. Following the completion of the transaction, the chief operating officer now owns 262,499 shares in the company, valued at $32,452,751.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DexCom news, COO Jacob Steven Leach sold 3,978 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $123.63, for a total value of $491,800.14. Following the completion of the sale, the chief operating officer now directly owns 262,499 shares in the company, valued at $32,452,751.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Jon Brown sold 2,624 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $140.04, for a total value of $367,464.96. Following the completion of the transaction, the executive vice president now owns 68,682 shares of the company’s stock, valued at approximately $9,618,227.28. The disclosure for this sale can be found here. Insiders have sold a total of 186,259 shares of company stock valued at $24,388,086 in the last quarter. Insiders own 0.41% of the company’s stock.

Institutional Trading of DexCom

A number of institutional investors have recently made changes to their positions in DXCM. Cullen Investment Group LTD. purchased a new stake in DexCom in the first quarter worth about $1,349,000. Symmetry Partners LLC bought a new stake in DexCom during the first quarter worth approximately $202,000. Newbridge Financial Services Group Inc. lifted its stake in DexCom by 4.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,064 shares of the medical device company’s stock worth $380,000 after purchasing an additional 132 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in DexCom during the 4th quarter valued at $447,000. Finally, PNC Financial Services Group Inc. lifted its holdings in DexCom by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 46,409 shares of the medical device company’s stock valued at $5,759,000 after buying an additional 3,823 shares in the last quarter. 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.