Wall Street Zen Upgrades DexCom (NASDAQ:DXCM) to Buy

DexCom (NASDAQ:DXCM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday, Wall Street Zen reports.

A number of other research firms have also weighed in on DXCM. TD Cowen reissued a “buy” rating on shares of DexCom in a report on Friday, July 31st. Benchmark upped their price target on shares of DexCom from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Mizuho lifted their price objective on shares of DexCom from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. UBS Group set a $96.00 target price on shares of DexCom and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of DexCom in a research report on Tuesday, June 23rd. They set a “buy” rating and a $86.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, DexCom presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.71.

DexCom Price Performance

NASDAQ:DXCM opened at $87.90 on Friday. The business’s 50-day moving average is $81.60 and its 200 day moving average is $72.49. DexCom has a 12 month low of $54.11 and a 12 month high of $92.59. The company has a market capitalization of $33.17 billion, a P/E ratio of 34.74, a P/E/G ratio of 1.47 and a beta of 1.42. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.47.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a return on equity of 35.94% and a net margin of 20.12%.The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the business posted $0.48 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that DexCom will post 2.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kevin R. Sayer sold 26,756 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the sale, the insider directly owned 328,970 shares in the company, valued at $25,106,990.40. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sadie Stern sold 2,565 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $88.37, for a total transaction of $226,669.05. Following the transaction, the executive vice president owned 126,043 shares in the company, valued at $11,138,419.91. This trade represents a 1.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,777 shares of company stock valued at $4,950,714 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On DexCom

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted 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 purchasing an additional 38,588,991 shares during the last quarter. Norges Bank bought a new position in shares of DexCom in the fourth quarter worth about $483,356,000. AQR Capital Management LLC grew its holdings in shares of 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 during the last quarter. Legal & General Group Plc bought a new position in shares of DexCom in the second quarter worth about $173,237,000. Finally, Deutsche Bank AG purchased a new position in DexCom in the 2nd quarter worth about $164,035,000. 97.75% of the stock is currently owned by institutional investors.

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.