Argus Issues Pessimistic Forecast for DexCom (NASDAQ:DXCM) Stock Price

DexCom (NASDAQ:DXCM) had its target price dropped by Argus from $100.00 to $90.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical device company’s stock. Argus’ target price indicates a potential upside of 63.98% from the stock’s previous close.

Several other research firms have also recently weighed in on DXCM. Piper Sandler set a $75.00 price objective on shares of DexCom and gave the company a “buy” rating in a research report on Friday, October 31st. Morgan Stanley upped their target price on shares of DexCom from $82.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Canaccord Genuity Group set a $99.00 price target on shares of DexCom and gave the company a “buy” rating in a report on Friday, October 31st. Truist Financial restated a “buy” rating and issued a $82.00 price objective (down previously from $94.00) on shares of DexCom in a research report on Monday. Finally, UBS Group decreased their price objective on DexCom from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.86.

DexCom Price Performance

Shares of NASDAQ DXCM traded down $3.14 during midday trading on Friday, reaching $54.88. 7,079,808 shares of the company traded hands, compared to its average volume of 4,490,458. DexCom has a 12 month low of $54.11 and a 12 month high of $93.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.35 and a current ratio of 1.52. The stock’s 50-day simple moving average is $69.65 and its 200-day simple moving average is $77.65. The firm has a market cap of $21.41 billion, a PE ratio of 38.13, a PEG ratio of 1.43 and a beta of 1.40.

DexCom (NASDAQ:DXCM) last released its quarterly earnings results on Thursday, October 30th. The medical device company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. DexCom had a net margin of 13.29% and a return on equity of 30.41%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. DexCom has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that DexCom will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Sadie Stern sold 1,466 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $80.00, for a total transaction of $117,280.00. Following the completion of the sale, the executive vice president directly owned 105,223 shares of the company’s stock, valued at approximately $8,417,840. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Jon Brown sold 500 shares of DexCom stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $80.29, for a total transaction of $40,145.00. Following the completion of the transaction, the executive vice president directly owned 94,102 shares in the company, valued at approximately $7,555,449.58. The trade was a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,383 shares of company stock worth $434,274. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On DexCom

A number of hedge funds and other institutional investors have recently made changes to their positions in DXCM. Marble Harbor Investment Counsel LLC lifted its position in DexCom by 2.7% in the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 162,948 shares of the medical device company’s stock valued at $10,965,000 after acquiring an additional 4,293 shares in the last quarter. Beirne Wealth Consulting Services LLC acquired a new stake in shares of DexCom in the 3rd quarter valued at about $208,000. NEOS Investment Management LLC lifted its holdings in shares of DexCom by 58.7% in the third quarter. NEOS Investment Management LLC now owns 175,982 shares of the medical device company’s stock valued at $11,842,000 after purchasing an additional 65,066 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of DexCom by 59.9% during the third quarter. Rothschild Investment LLC now owns 654 shares of the medical device company’s stock worth $44,000 after buying an additional 245 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of DexCom by 2.3% during the third quarter. Vanguard Group Inc. now owns 49,456,043 shares of the medical device company’s stock worth $3,327,897,000 after buying an additional 1,133,638 shares in the last quarter. 97.75% of the stock is currently owned by institutional investors and hedge funds.

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.