DexCom (NASDAQ:DXCM) Price Target Raised to $87.00

DexCom (NASDAQ:DXCM) had its price objective hoisted by Truist Financial from $80.00 to $87.00 in a report issued on Thursday morning, Marketbeat reports. They currently have a buy rating on the medical device company’s stock.

A number of other research firms have also recently weighed in on DXCM. William Blair upgraded DexCom to a “strong-buy” rating in a report on Friday, May 15th. Benchmark restated a “buy” rating on shares of DexCom in a report on Tuesday, June 23rd. Mizuho raised their target price on shares of DexCom from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays reaffirmed an “underweight” rating and issued a $64.00 target price (down from $67.00) on shares of DexCom in a report on Monday, May 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $88.00 price objective (up from $75.00) on shares of DexCom in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

DexCom Price Performance

Shares of DXCM stock opened at $76.65 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.95 and a quick ratio of 1.64. The firm’s 50-day moving average is $71.16 and its two-hundred day moving average is $68.73. DexCom has a 12 month low of $54.11 and a 12 month high of $89.98. The company has a market capitalization of $29.58 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45.

DexCom (NASDAQ:DXCM) last posted its quarterly earnings results on Thursday, April 30th. The medical device company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. DexCom had a net margin of 19.31% and a return on equity of 33.33%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. Analysts predict that DexCom will post 2.57 earnings per share for the current year.

Insider Activity

In other DexCom news, Director Bridgette P. Heller sold 1,012 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $60.01, for a total transaction of $60,730.12. Following the transaction, the director directly owned 25,007 shares in the company, valued at approximately $1,500,670.07. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $72.00, for a total transaction of $1,926,432.00. Following the completion of the transaction, the insider directly owned 355,726 shares of the company’s stock, valued at approximately $25,612,272. This trade represents a 7.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 71,750 shares of company stock valued at $5,163,241 in the last quarter. Insiders own 0.28% of the company’s stock.

Institutional Trading of DexCom

Institutional investors have recently bought and sold shares of the company. Tema ETFs LLC grew its holdings in DexCom by 14.2% in the second quarter. Tema ETFs LLC now owns 21,664 shares of the medical device company’s stock valued at $1,459,000 after purchasing an additional 2,688 shares during the last quarter. E. Ohman J or Asset Management AB raised its stake in shares of DexCom by 18.9% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 113,204 shares of the medical device company’s stock worth $7,624,000 after buying an additional 18,012 shares during the last quarter. Paladin Wealth LLC raised its stake in shares of DexCom by 17.4% during the 2nd quarter. Paladin Wealth LLC now owns 9,338 shares of the medical device company’s stock worth $629,000 after buying an additional 1,386 shares during the last quarter. Arista Wealth Management LLC acquired a new position in shares of DexCom during the 2nd quarter worth $337,000. Finally, Sax Wealth Advisors LLC boosted its position in shares of DexCom by 46.1% in the 2nd quarter. Sax Wealth Advisors LLC now owns 17,001 shares of the medical device company’s stock worth $1,068,000 after buying an additional 5,364 shares in the last quarter. 97.75% of the stock is currently 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.