DexCom (NASDAQ:DXCM) Hits New 12-Month High – What’s Next?

DexCom, Inc. (NASDAQ:DXCM) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $92.30 and last traded at $92.30, with a volume of 1834514 shares changing hands. The stock had previously closed at $90.22.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DXCM shares. Benchmark boosted their price target on shares of DexCom from $77.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Barclays reiterated an “underweight” rating and issued a $64.00 price target (down from $67.00) on shares of DexCom in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft initiated coverage on DexCom in a report on Tuesday, June 23rd. They issued a “buy” rating and a $86.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and issued a $94.00 price target on shares of DexCom in a research report on Friday, July 31st. Finally, William Blair raised shares of DexCom to a “strong-buy” rating in a report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

DexCom Stock Up 2.3%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. The company has a market cap of $34.85 billion, a PE ratio of 36.50, a PEG ratio of 1.52 and a beta of 1.41. The firm has a fifty day simple moving average of $77.15 and a 200 day simple moving average of $70.79.

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

Insider Activity at DexCom

In related news, EVP Jon Coleman sold 4,912 shares of DexCom stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $73.00, for a total value of $358,576.00. Following the completion of the transaction, the executive vice president directly owned 100,361 shares in the company, valued at approximately $7,326,353. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $76.32, for a total transaction of $2,042,017.92. Following the sale, the insider owned 328,970 shares of the company’s stock, valued at approximately $25,106,990.40. The trade was a 7.52% 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. Over the last three months, insiders sold 73,035 shares of company stock worth $5,446,673. 0.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DexCom

Several large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in DexCom by 15.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,147 shares of the medical device company’s stock valued at $77,000 after acquiring an additional 153 shares during the period. V Square Quantitative Management LLC raised its position in shares of DexCom by 1.8% during the 1st quarter. V Square Quantitative Management LLC now owns 9,618 shares of the medical device company’s stock worth $604,000 after purchasing an additional 172 shares during the last quarter. Essex Financial Services Inc. lifted its position in shares of DexCom by 5.7% in the first quarter. Essex Financial Services Inc. now owns 3,256 shares of the medical device company’s stock valued at $204,000 after acquiring an additional 175 shares in the last quarter. Keel Point LLC boosted its stake in DexCom by 3.1% during the 4th quarter. Keel Point LLC now owns 6,473 shares of the medical device company’s stock worth $430,000 after purchasing an additional 193 shares during the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in 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. 97.75% of the stock is owned by institutional investors and hedge funds.

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.