DexCom (NASDAQ:DXCM) Upgraded by UBS Group to “Strong-Buy” Rating

DexCom (NASDAQ:DXCM) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group set a $82.00 price objective on shares of DexCom and gave the stock a “buy” rating in a research note on Monday, May 18th. Benchmark reaffirmed a “buy” rating on shares of DexCom in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 price target on the stock. William Blair raised shares of DexCom to a “strong-buy” rating in a research note on Friday, May 15th. Finally, Barclays reissued an “underweight” rating and issued a $64.00 price objective (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, DexCom has a consensus rating of “Moderate Buy” and an average price target of $85.40.

DexCom Stock Up 0.4%

Shares of NASDAQ DXCM opened at $75.14 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.95. DexCom has a 52 week low of $54.11 and a 52 week high of $89.98. The stock has a market capitalization of $28.99 billion, a P/E ratio of 32.11, a PEG ratio of 1.23 and a beta of 1.45. The stock’s fifty day moving average is $72.86 and its 200 day moving average is $69.05.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.09. DexCom had a return on equity of 33.33% and a net margin of 19.31%.The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. DexCom’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts forecast that DexCom will post 2.57 earnings per share for the current fiscal year.

Insider Activity

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $60.01, for a total transaction of $60,730.12. Following the completion of the transaction, the director owned 25,007 shares of the company’s stock, valued at approximately $1,500,670.07. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Jon Coleman sold 4,912 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total transaction of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares of the company’s stock, valued at $7,326,353. This trade represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 98,506 shares of company stock valued at $7,205,258. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

A number of hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of DexCom by 257.7% during the fourth quarter. Brighton Jones LLC now owns 16,582 shares of the medical device company’s stock worth $1,290,000 after buying an additional 11,946 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of DexCom by 6.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,329 shares of the medical device company’s stock valued at $227,000 after acquiring an additional 196 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of DexCom by 5.4% in the 1st quarter. Empowered Funds LLC now owns 8,446 shares of the medical device company’s stock valued at $577,000 after acquiring an additional 436 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of DexCom by 13.2% during the 1st quarter. Focus Partners Wealth now owns 7,218 shares of the medical device company’s stock valued at $493,000 after acquiring an additional 841 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of DexCom by 1.4% during the 2nd quarter. NewEdge Advisors LLC now owns 19,253 shares of the medical device company’s stock valued at $1,681,000 after acquiring an additional 258 shares in the last quarter. Institutional investors and hedge funds own 97.75% of the company’s stock.

DexCom Company Profile

DexCom, Inc is a medical device company that develops, manufactures and distributes continuous glucose monitoring (CGM) systems for people with diabetes. Its products are designed to provide near real-time glucose readings, trend information and alerts to help patients and clinicians manage insulin dosing and reduce hypoglycemia and hyperglycemia. The company’s offerings combine wearable glucose sensors, wireless transmitters and software applications that deliver data to smartphones, dedicated receivers and cloud-based platforms for remote monitoring.

Founded in 1999 and headquartered in San Diego, California, DexCom has focused its business on advancing CGM technology and expanding clinical use beyond traditional insulin-dependent populations.