DexCom (NASDAQ:DXCM) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of DexCom (NASDAQ:DXCM) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on the company. Weiss Ratings upgraded DexCom from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Truist Financial set a $93.00 target price on shares of DexCom and gave the company a “buy” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of DexCom in a report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 target price for the company. Barclays reaffirmed an “underweight” rating and set a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Finally, Royal Bank Of Canada upped their price target on shares of DexCom from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

DexCom Trading Up 0.3%

Shares of DXCM stock opened at $91.06 on Friday. DexCom has a 1 year low of $54.11 and a 1 year high of $92.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.73 and a quick ratio of 1.43. The stock’s 50 day simple moving average is $79.64 and its two-hundred day simple moving average is $71.77. The company has a market cap of $34.36 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 1.53 and a beta of 1.41.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings data on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.29 billion. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. Research analysts predict that DexCom will post 2.64 earnings per share for the current year.

Insider Buying and Selling at DexCom

In other news, EVP Michael Jon Brown sold 1,700 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $75.55, for a total value of $128,435.00. Following the transaction, the executive vice president directly owned 106,353 shares in the company, valued at approximately $8,034,969.15. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jon Coleman sold 4,911 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $74.13, for a total transaction of $364,052.43. Following the completion of the transaction, the executive vice president directly owned 95,450 shares in the company, valued at $7,075,708.50. This represents a 4.89% 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 sold 75,600 shares of company stock valued at $5,673,342. 0.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On DexCom

Several large investors have recently added to or reduced their stakes in DXCM. California State Teachers Retirement System increased its position in shares of DexCom by 6,567.7% during the second quarter. California State Teachers Retirement System now owns 39,176,552 shares of the medical device company’s stock worth $2,638,541,000 after acquiring an additional 38,588,991 shares during the period. Norges Bank bought a new position in DexCom in the fourth quarter worth approximately $483,356,000. AQR Capital Management LLC grew its stake in DexCom by 597.8% in the fourth quarter. AQR Capital Management LLC now owns 3,102,789 shares of the medical device company’s stock worth $205,932,000 after purchasing an additional 2,658,158 shares in the last quarter. Legal & General Group Plc purchased a new position in DexCom during the 2nd quarter worth $173,237,000. Finally, Deutsche Bank AG purchased a new position in DexCom during the 2nd quarter worth $164,035,000. 97.75% of the stock is owned by hedge funds and other institutional investors.

About DexCom

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.