DexCom, Inc. (NASDAQ:DXCM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

DexCom, Inc. (NASDAQ:DXCM) has received an average rating of “Moderate Buy” from the twenty-one research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $98.32.

DXCM has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on DexCom from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Cfra Research upgraded DexCom to a “hold” rating in a research report on Friday, March 21st. Mizuho initiated coverage on DexCom in a research report on Thursday, April 10th. They set an “outperform” rating and a $85.00 price objective for the company. The Goldman Sachs Group initiated coverage on DexCom in a research report on Friday, May 30th. They set a “buy” rating and a $104.00 price objective for the company. Finally, Piper Sandler dropped their price objective on DexCom from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd.

DexCom Trading Down 1.0%

Shares of DXCM stock opened at $81.99 on Friday. DexCom has a fifty-two week low of $57.52 and a fifty-two week high of $117.91. The stock has a market cap of $32.15 billion, a P/E ratio of 57.34, a P/E/G ratio of 2.30 and a beta of 1.46. The business has a fifty day simple moving average of $78.50 and a 200-day simple moving average of $79.31. The company has a quick ratio of 1.28, a current ratio of 1.47 and a debt-to-equity ratio of 0.59.

DexCom (NASDAQ:DXCM) last announced its quarterly earnings results on Thursday, May 1st. The medical device company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). DexCom had a net margin of 14.29% and a return on equity of 30.14%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts forecast that DexCom will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Sadie Stern sold 6,184 shares of DexCom stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $85.11, for a total value of $526,320.24. Following the transaction, the executive vice president now directly owns 109,621 shares of the company’s stock, valued at $9,329,843.31. The trade was a 5.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Jon Brown sold 10,000 shares of DexCom stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $84.28, for a total value of $842,800.00. Following the completion of the transaction, the executive vice president now directly owns 95,602 shares in the company, valued at $8,057,336.56. This represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,536 shares of company stock valued at $1,393,876. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On DexCom

Hedge funds and other institutional investors have recently modified their holdings of the company. Private Trust Co. NA lifted its stake in shares of DexCom by 266.3% in the 4th quarter. Private Trust Co. NA now owns 337 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC lifted its position in DexCom by 211.2% during the 1st quarter. Golden State Wealth Management LLC now owns 389 shares of the medical device company’s stock worth $27,000 after acquiring an additional 264 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in DexCom during the 1st quarter worth approximately $27,000. Optiver Holding B.V. acquired a new position in DexCom during the 4th quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC lifted its position in DexCom by 62.8% during the 4th quarter. TD Private Client Wealth LLC now owns 433 shares of the medical device company’s stock worth $34,000 after acquiring an additional 167 shares in the last quarter. 97.75% of the stock is 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.